Indian Stock Market Opens with Minor Gains: Sensex and Nifty Rise
The Indian stock market opened with minor gains on Wednesday. The Sensex increased by 187.35 points, reaching 81,642.75, and the Nifty rose by 58.70 points to 24,916.
During the opening hour, 1816 shares were in green, 579 shares declined, and 152 shares remained unchanged. Sectors like Bank, Auto, Financial Services, FMCG, IT, Media, Metal, Pharma, Healthcare, Consumer Durables, Oil and Gas opened positively, while PSU Bank, Private Bank, and Realty saw declines.
Top gainers included Asian Paints, NTPC, JSW Steel, ONGC, and Hindalco. On the other hand, Tata Consumer Products, Power Grid, IndusInd Bank, Tata Motors, and Axis Bank were the top losers.
On Tuesday, domestic equity indices ended positively despite profit-taking. Experts predict consolidation or minor dips before a potential rebound. Ajay Bagga, a Banking and Market expert, noted that the Nasdaq is near correction territory, and policy meeting outcomes from the Bank of Japan and the US Fed will keep markets volatile.
On the regulatory front, Sebi proposed measures to curb speculative trading in index derivatives, including limiting multiple option expiries and increasing contract sizes to enhance market stability. Varun Aggarwal, MD of Profit Idea, suggested that the market remains in a sideways to bullish trend with high volatility.
Asian markets showed mixed performances ahead of key economic data and central bank decisions. Japan’s Nikkei 225 declined by 0.84%, while South Korea’s Kospi gained 0.48%. The US market closed mixed, with the Dow Jones Industrial Average up by 0.5% and the S&P 500 down by 0.5%. Notably, tech stocks like Microsoft and Nvidia faced pressure, falling by 5% and 7.04%, respectively.
Doubts Revealed
Sensex -: Sensex is a short form for the Bombay Stock Exchange Sensitive Index. It is a number that shows how the 30 biggest companies on the Bombay Stock Exchange are doing.
Nifty -: Nifty is a short form for the National Stock Exchange Fifty. It is a number that shows how the 50 biggest companies on the National Stock Exchange are doing.
PSU Bank -: PSU Bank stands for Public Sector Undertaking Bank. These are banks owned by the government of India.
Realty -: Realty refers to the real estate sector, which includes companies that build and sell houses, offices, and other buildings.
Asian Paints -: Asian Paints is a big company in India that makes and sells paints for houses and buildings.
NTPC -: NTPC stands for National Thermal Power Corporation. It is a company that produces electricity in India.
Tata Consumer Products -: Tata Consumer Products is a company that makes and sells food and beverages like tea, coffee, and snacks.
Power Grid -: Power Grid is a company that manages the electricity transmission network in India, making sure electricity reaches homes and businesses.
Sebi -: Sebi stands for Securities and Exchange Board of India. It is a government organization that regulates the stock market to protect investors.
Speculative trading -: Speculative trading is when people buy and sell stocks quickly to make a profit, rather than investing for a long time.
Asian markets -: Asian markets refer to the stock markets in countries like China, Japan, and South Korea.
US market -: US market refers to the stock markets in the United States, like the New York Stock Exchange and NASDAQ.
