Mumbai, January 20 (IANS). Indian stock market is trading flat on Monday ahead of the swearing in of Donald Trump as US President.
At 10 am, Sensex was 133 points or 0.17 per cent higher at 76,738 and Nifty was 10 points or 0.05 per cent higher at 23,213.
In comparison to largecaps, a selling trend is being seen in midcaps and smallcaps. The Nifty Midcap 100 index was down 152 points or 0.28 per cent at 54,455 and the Nifty Smallcap 100 index was at 17,638, down 33 points or 0.19 per cent.
The broader market trend remains positive. On the National Stock Exchange (NSE), 1,268 shares are in the green and 1,090 shares are in the red.
Auto, IT, Pharma, FMCG, Metal, Realty, Energy, Commodities, Healthcare and Oil&Gas indices are in the red. At the same time, Banking, Media, Infra and PSE indices are in the green.
Kotak Mahindra Bank, SBI, NTPC, Reliance Industries, Power Grid, Bajaj Finance, Bharti Airtel, Zomato, HDFC Bank, HUL, L&T, Asian Paints and Bajaj Finserv are the top gainers in the Sensex.
Axis Bank, Tata Motors, IndusInd Bank, M&M, TCS, Infosys, Tata Steel and Sun Pharma are the top losers.
Global markets are trading at a brisk pace. In Asia, the markets of Shanghai, Seoul, Tokyo, Bangkok and Jakarta are in the green. American markets also closed in the green in Friday’s session.
Akshay Chinchalkar, Head of Research, Axis Securities, said this week is equally important for both bulls and bears and will decide the direction of Nifty in the times to come.
“Smallcap and midcap benchmarks rose for four consecutive days till Friday, the longest such gain since December 11, which means investors are now more risk-on rather than defensive,” he said.
–IANS
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