As of 11:05 AM IST, the Sensex is down by 100 points, while the Nifty has slipped below the 25,100 mark. Despite this decline, shares in the IT sector have shown resilience, buoyed by a positive revenue growth forecast from HCLTech. The market has seen some recovery with Nifty sustaining above the 25,000 mark, indicating potential for continued upward movement driven by stock-specific actions.
Sensex and Nifty Performance
The Sensex opened positively but has since dipped into the red, reflecting a loss of momentum. Currently, it is trading at approximately 41,800 points. The Nifty index is hovering around 25,050 points, showing a slight decrease as well. Analysts suggest that while there may be short-term fluctuations, the overall market sentiment remains optimistic due to strong fundamentals in certain sectors.
Top Gainers and Losers
At this hour, Sunteck Realty Ltd. leads the gainers with a remarkable increase of 6.60%, trading at ₹590.95. Following closely are Nupur Recyclers Ltd. and Motilal Oswal Financial Services Ltd., with gains of 6.24% and 6.17%, respectively. On the flip side, Mahindra & Mahindra (M&M) has dipped by 2%, contributing to the overall market decline.
Garuda Share Price Update
Garuda Construction and Engineering shares made a strong debut today, listing at ₹105 on the NSE, which is a premium of 10% over its IPO price of ₹95. On the BSE, it opened at ₹103.20. The IPO was well-received, being oversubscribed by 7.55 times overall.
Hang Seng Index Update
Over in Hong Kong, the Hang Seng Index has shown mixed performance today. After opening lower due to concerns over economic growth and regulatory changes impacting major tech companies, it has managed to recover slightly but remains volatile. Investors are closely monitoring developments that could influence market sentiment.
Global Market Influences
The global markets have also been affected by fluctuating oil prices and geopolitical tensions. Oil prices dropped by $2 earlier today due to revised forecasts for global oil demand growth from OPEC and concerns surrounding geopolitical stability in the Middle East.
Forex News
In forex news, the Indian Rupee has fallen by 2 paise to trade at ₹84.07 against the US dollar in early trade. This depreciation comes amid a strengthening dollar driven by expectations of modest rate cuts from the Federal Reserve.
Closing Thoughts
As we move further into today’s trading session, all eyes will be on how key stocks perform and whether the market can regain its footing after recent declines. We will continue to provide live updates on market movements and key stock performances throughout the day.Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Always consult with a financial advisor before making investment decisions.
