Stock market India today: see what traders should do on Friday
Key Takeaways:
- The Sensex dropped more than 460 points, wiping out the early gains, and traded at 60,190 after reaching an intraday high of 60,877.
- During the first hour of trading, the 30-share BSE Sensex increased 209.39 points to 60,866.84.
After hitting an intraday high of 60,877, the Sensex dropped more than 460 points, wiped out the early gains, and traded at 60,190. The Nifty50 index was trading close to 17,900 at the time.
The top gainers from the Sensex pack are Engineers India, Sundram Fasteners, CEAT, Jindal Saw, and Balkrishna Industries.
The laggards are Hitachi Energy India, Bajaj Finance, Bajaj Finserve, Cholamandalam Investment & Finn, and IRB Infrastructure Developers.
Engineers India, JBM Auto, Fertilizers & Chemicals Travancore, CEAT, and Sundram Fasteners are among the top performers on the National Stock Exchange.
The top losers are IRB Infrastructure Developers, Bajaj Finance, Bajaj Finserve, Cholamandalam Investment & Fin, General Insurance Corp Of India, and Bajaj Finance.
Before the volatility in both benchmarks earlier in the day, markets opened in the green. The 30-share BSE Sensex rose 209.39 points to 60,866.84 during the opening phase of trading. The overall NSE Nifty index rose 59 points to 18,101.95.
Seoul, Tokyo, Shanghai, as well as Hong Kong all displayed an upward trend in their equity markets.
The Fed minutes contained a distinctly hawkish message, saying that a “restrictive policy stance would have to be maintained until the arriving data provided confidence that inflation was on a sustained downward path to 2%.”
Because the US economy is still robust, the markets anticipate a soft landing for the US economy, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “Despite these hawkish minutes, the US markets closed in the positive territory,” he added.
