Mumbai Stock Market Opens Flat
The Indian equity market opened flat on Tuesday. The BSE Sensex started at 82,652.69, up by 92.85 points, and the Nifty opened at 25,313.40, up by 34.70 points.
Top Gainers and Losers
During the opening hour, the top gaining stocks were Sun Pharma, ITC, Hindalco, Hindustan Unilever, and Shriram Finance. On the other hand, Bajaj Finance, Infosys, Bajaj Auto, Bharat Petroleum Corporation Ltd, and Titan were the top losers.
Sector Performance
At the National Stock Exchange (NSE), sectors like Bank, Auto, Financial Services, IT, Media, PSU, and Private Banks opened in the red. However, sectors such as FMCG, Metal, Pharma, Realty, Healthcare, and Consumer Durables opened in the green.
Market Analysis
Varun Aggarwal, MD of Profit Idea, commented, “This pattern suggests a gradual upward momentum within a narrow range. Although the Nifty has surged recently, the overall market breadth remains weak, which is concerning. The short-term trend for the Nifty 50 remains positive, but the index is encountering resistance around the 25,350 level.”
Hindustan Aeronautics’ Stock Surge
After the cabinet’s approval for the procurement of 240 aero-engines for Su-30 MKI aircraft worth Rs 26,000 crore, Hindustan Aeronautics’ stocks rose by more than 3% in the initial hour of trading.
Investor Activity
Foreign institutional investors (FIIs) purchased shares worth Rs 1,735.46 crore, while domestic institutional investors (DIIs) bought shares worth Rs 356.37 crore on September 2, 2024, according to provisional NSE data.
Asia-Pacific Market Performance
In the Asia-Pacific region, markets showed mixed performance on Tuesday morning. The Asia Dow rose by 0.48%, Japan’s Nikkei 225 gained 0.67%, and South Korea’s KOSPI increased by 0.12%. However, China’s Shanghai Composite index fell slightly by 0.01%.
Doubts Revealed
Mumbai Stock Market -: The Mumbai Stock Market is a place where people buy and sell shares of companies. It’s like a big marketplace for company ownership.
Opens Flat -: When the market ‘opens flat,’ it means that the prices of shares didn’t change much from the previous day.
Sun Pharma -: Sun Pharma is a big company in India that makes medicines.
Hindustan Aeronautics -: Hindustan Aeronautics is an Indian company that makes airplanes and helicopters.
BSE Sensex -: BSE Sensex is an index that shows how the top 30 companies in the Bombay Stock Exchange are doing.
Nifty -: Nifty is another index that shows how the top 50 companies in the National Stock Exchange are doing.
Top Gainers -: Top gainers are the companies whose share prices went up the most.
Top Losers -: Top losers are the companies whose share prices went down the most.
FMCG -: FMCG stands for Fast-Moving Consumer Goods, like food and cleaning products that people buy often.
Pharma -: Pharma is short for pharmaceuticals, which means medicines and drugs.
In the green -: When a sector is ‘in the green,’ it means the share prices in that sector are going up.
In the red -: When a sector is ‘in the red,’ it means the share prices in that sector are going down.
Government procurement approval -: This means the government has agreed to buy products or services from a company.
Foreign investors -: Foreign investors are people or companies from other countries who buy shares in Indian companies.
Asia-Pacific markets -: Asia-Pacific markets are stock markets in countries like China, Japan, and Australia.
