Mumbai, Aug 30 (IANS) Indian equity indices were trading higher after opening at a fresh record high following positive cues from Asian peers.
At 9:37 a.m., Sensex was up 221 points or 0.27 per cent at 82,355 and Nifty was up 66 points or 0.26 per cent at 25,217.
At the beginning of the trading session, Sensex and Nifty made a new all-time high of 82,637 and 25,249 respectively.
The market trend remains positive. On the National Stock Exchange (NSE) 1,276 shares are in the green and 888 shares in the red.
Almost all indices are trading in the green. PSU Bank, fin service, FMCGm Pharma, energy and pvt bank are major gainers.
In the Sensex pack, Bajaj Finance, Bajaj Finserv, HDFC Bank, NTPC, Power Grid, L&T, Titan, M&M, Asian Paints and Reliance are the top gainers. Tata Motors, Tech Mahindra, Wipro, TCS, Sun Pharma and HCL Tech are the top losers.
Along with largecaps, there is a bullish trend in midcaps and smallcaps also. The Nifty Midcap 100 index is at 59,139, up 255 points or 0.45 per cent, and the Nifty Smallcap 100 index is at 19,292, up 79 points or 0.41 per cent.
According to market experts: “This near-term trend in the market is likely to continue. A breakout from the present can happen if the banking stocks witness big buying. However, the struggle for deposits experienced by the banking system and the consequent feared pressure on margins are keeping the demand for banking stocks depressed despite attractive valuations. Largecaps are outperforming the broader market now. This is a healthy trend.”
Almost all Asian markets are bullish. Tokyo, Seoul, Jakarta and Bangkok are trading with a gain of about half a percent. US markets closed mixed on Thursday.
The foreign institutional investors (FIIs) bought equities worth Rs 3,259 crore on August 29, while domestic institutional investors extended their buying as they bought equities worth Rs 2690 crore on the same day.
—IANS
avs/kvd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.