Today's stock market: Mixed signals
Today the Indian stock market recorded mixed performance. The major indices Sensex and Nifty started the day with positive signals, but in the middle of the day, there was some decline due to profit booking. However, the market closed with a slight advancement at the time of closing.
Performance of major indices
Sensex:
Opening status: Today Sensex opened with a growth of 150 points.
Highest level of the day: Sensex was at a growth of 350 points at the highest level of the day.
Low level of the day: Due to profit booking, Sensex also saw a decline of 100 points.
Closing status: Eventually Sensex closed at 52,350 with a growth of 150 points.
Nifty:
Opening status: Nifty opened with a growth of 50 points.
Highest level of the day: Nifty was at a growth of 80 points at the highest level of the day.
Low level of the day: Nifty also saw a decline of 30 points for some time.
Closing position: Nifty closed at 15,750 with a growth of 50 points.
Sector-wise performance
Banking sector:
The banking sector performed well today. Advancement was recorded in major banking stocks. Good buying was seen in the shares of Axis Bank, HDFC Bank and ICICI Bank.
IT sector:
The IT sector also had a positive trend. Advancement was recorded in the shares of Infosys, TCS and Wipro.
Auto sector:
The auto sector performed slightly weak. Shares of Maruti Suzuki and Hero MotoCorp saw a decline.
Pharma sector:
The pharma sector also remained weak. Shares of Dr Reddy's and Sun Pharma registered a decline.
Key events and news
Reserve Bank of India:
The Reserve Bank of India did not take any major decision on monetary policy today. No change was made in interest rates, due to which the market remained stable.
Company results:
Quarterly results of some major companies were also announced today, which had an impact on the market. Results of Reliance Industries, TCS, and ITC were positive.
Global signals:
Positive signals were also received from global markets. Strength in American and Asian markets affected the Indian market.
Tomorrow's forecast
- Investors should keep some important things in mind for tomorrow's market:
- Global signals: The situation in American and Asian markets will have an impact on the Indian market.
- Company results: Quarterly results of some more major companies are going to come tomorrow.
- Economic data: Inflation rate and GDP figures may be announced tomorrow.
- Inflation: Inflation figures may affect investor sentiment.
Investors are advised to invest carefully and prudently.