Mumbai, October 20 (IANS). The Indian stock market opened with a rise on Monday. There was an all-round boom in the market. At 9:26 am, Sensex was at 84,454, up 502 points or 0.60 per cent, and Nifty was at 25,863, up 152 points or 0.60 per cent.
Banking and IT are sharing the work of pulling the market up. Nifty Bank is trading with a gain of 0.58 percent and Nifty IT is trading with a gain of 0.74 percent.
Apart from this, on sectoral basis, Auto, PSU Bank, Financial Services, Pharma, FMCG, Energy, Infra, PSE, Services and Healthcare were gainers. However, metal, realty and consumer durables were in the red.
Compared to largecaps, there is mixed trading in midcaps and smallcaps. The Nifty Midcap 100 index was up 374 points or 0.64 per cent at 59,277 and the Nifty Smallcap 100 index was marginally lower by 1 point at 18,221.
Infosys, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Bajaj Finserv, Tata Motors, TCS, Bharti Airtel, Titan, SBI, Bajaj Finance, ITC, L&T and NTPC were the gainers in the Sensex pack. ICICI Bank, Tata Steel, UltraTech Cement, Trent, M&M and Tech Mahindra were the top losers.
Market experts say that due to expectations of reduction in inflation and corporate earnings being as per expectations, the sentiment of investors in the market remains strong and this has helped in maintaining the bullishness of the market. At the same time, market sentiment remains positive due to purchases by foreign institutional investors.
Foreign institutional investors (FIIs) continued their buying spree for the second consecutive day and bought equities worth Rs 309 crore on October 17, while domestic institutional investors (DIIs) also continued their strong support and bought equities worth over Rs 1,526 crore on the same day.
–IANS
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