Mumbai, October 10 (IANS). The Indian stock market opened in the green in Friday’s trading session. All-round growth is being seen in the market. At 9:33 am, Sensex was at 82,399, up 227 points or 0.28 per cent, and Nifty was at 25,245, up 63 points or 0.25 per cent.
The rise in the market is being led by banking stocks. Nifty Bank was trading up 0.45 percent in early trade. Nifty Auto, Nifty PSU Bank, Nifty Financial Services, Nifty Pharma, Nifty FMCG and Nifty Realty were in the green.
The reason for the rise in the market is being considered to be the signs of reducing geopolitical tension in the Middle East and a possible trade agreement between America and India.
On the other hand, Nifty Metal, Nifty Metal and Nifty Commodity were in the red.
Power Grid, Adani Ports, Axis Bank, SBI, Trent, Asian Paints, ITC, NTPC, BEL, HDFC Bank, Titan and Tata Motors were the top gainers in the Sensex pack. Tata Steel, TCS, M&M, Tech Mahindra, Bajaj Finance, Sun Pharma and Bharti Airtel were the top losers.
Midcap and smallcap are also trading strongly. The Nifty Midcap 100 index was at 58,652, up 222 points or 0.38 per cent, and the Nifty Smallcap 100 index was at 18,111, up 111 points or 0.62 per cent.
According to experts, “The overall market environment is becoming positive. At the global level, the ‘Gaza Peace Agreement’ indicates the end of the conflict and reduction in geopolitical risk from the region.”
“Domestically, there are signs of a trade deal between the US and India, in which India will ‘rebalance’ its oil purchases,” he said.
According to market analysts, these positive developments and the change in FII strategy (FIIs were net buyers in the cash market in the last three trading days) bode well for the market.
–IANS
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