Bank Nifty index opened 139 points higher at 53,116.
The domestic stock market opened trading on a strong note on Tuesday. Bombay Stock Exchange (BSE) benchmark Sensex opened 288 points higher at 84,585. While the Nifty 50 of the National Stock Exchange (NSE) opened 0.35% higher at 25,899. At the start of trading, broader indices opened in the green. Bank Nifty index opened 139 points higher at 53,116. Apart from this, Tech Mahindra, M&M, L&T, Wipro and Infosys were top gainers in Nifty 50 on Tuesday, while Asian Paints, JSW Steel, Hindalco, Maruti Suzuki and Tata Steel emerged as top losers in Nifty 50 on October 1.
Big decline in terms of market capitalization
At the beginning of trading, except Metal, FMCG, Pharma, all other sectoral indices were in the green. In terms of market capitalization, India shrank by more than two percent in dollar terms in September. This is the sharpest decline among the top 10 global markets. India’s market capitalization fell from $5.03 trillion to $4.90 trillion. This was also the second consecutive monthly decline. It is the fifth largest market in the world in terms of market capitalization. The decline in India’s valuations in September was mainly due to decline in sectors including IT, oil and gas, power, PSU, defense and telecom.
There was chaos in the last session
There was chaos in the stock market on 30 September. BSE Sensex fell 1,272.07 points to close at 84,299.78. At one time during trading, BSE Sensex fell by 1,314.71 points and reached 84,257.14 points. Similarly, Nifty 50 also closed at 25,810.85 with a huge fall of 368.10 points.
Uniform transaction charges for brokers
Both the National Stock Exchange and the Bombay Stock Exchange have announced uniform transaction charges for cash and derivatives segments with effect from October 1. For trades in the cash market, NSE will charge ₹2.97 per lakh of value traded on each side, Moneycontrol reported. In equity futures, the charge will be ₹1.73 per lakh on each side, and for equity options, it will be ₹35.03 per lakh of premium price.
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