Stock Market Update: The Indian stock market made gains on Friday morning despite the pressure of the global market and gained momentum in the sixth consecutive trading session. Investors today showed confidence in the market by removing negative sentiment and continued buying from the beginning. In this last week before the festival of Diwali, investors bet fiercely and the Sensex reached a strength of about 2,000 points.
The Sensex opened and started trading at 59,381 with a gain of 178 points this morning, while the Nifty gained 59 points to open at 17,623 and started trading. This morning, most of the stock markets of Asia were showing a decline and experts were also speculating that the beginning of the market would be weak. But, investors continued to buy under this pressure, due to which the Sensex rose 324 points to 59,527 at 9.26 am, while the Nifty rose 84 points to trade at 17,647.
In today’s business, investors have picked up bullish stocks from the beginning. Shares of companies like Axis Bank, M&M, Titan Company, SBI Life Insurance and HDFC Life are showing a rise from the beginning today and due to continuous buying, these stocks also joined the list of top gainers. Nifty Midcap 100 and Smallcap 100 are also witnessing a rise of 0.4 percent in today’s trading.
However, some stocks are witnessing strong selling today. This includes shares of companies like Bajaj Finance, TCS, Tech Mahindra, Power Grid Corp and Divis Lab, which have come under the category of top losers due to continuous selling.
If today’s business is seen sector-wise, except Nifty IT and Media sector, all others are seeing a boom. Nifty Bank and Nifty Consumer Durables sector were the biggest gainers, showing a jump of 0.7 percent. Shares of Axis Bank made a tremendous gain of 6 per cent in the beginning today, while the shares of Lakshmi Machine Works are trading at 3 per cent jump.
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