Top Stocks for Today: Sensex and Nifty50 High
Early losses on Sensex and Nifty50
The S&P BSE Sensex slipped 179 points, or 0.31 per cent, to 57,746 at 9.30 AM, while the Nifty50 was at 17,019, down by 58 points, or 0.34 per cent. On the 30-share Sensex platform, TCS, Infosys, Wipro, HCL Tech, and Tech Mahindra were trading with gains. On the flip side, Bajaj Finserv, Bajaj Finance, Reliance, M&M, HDFC, and ICICI Bank were among the early losers.
Gainers and losers among individual stocks
Among individual stocks, HCL Technologies, Tech Mahindra, Infosys, TCS, and Wipro were among the major gainers, while losers were HDFC Life, SBI Life Insurance, HDFC, Bajaj Finance, and Eicher Motors.
Broader market movements
The broader markets were also trading in mixed with BSE Midcaps down 0.07 per cent and BSE Smallcaps marginally up 0.03 per cent.
Sector-wise movements
Sector-wise, the IT index rises 1 per cent, while the Financial Services falls 0.6 per cent in early trade.
Campus Activewear's shares drop
Sport shoe firm Campus Activewear's shares dropped over 5 per cent in early trade as reports of TPG selling a 7.62 per cent stake worth Rs 800 crore in Campus Activewear via a block deal came out, reported Bussines Standard.
Previous day's performance
In the previous session on Thursday, the S&P BSE Sensex settled at 57,925, down 289 points or 0.5 per cent. The Nifty50 ended at 17,077, down 75 points or 0.44 per cent.
International market updates
Overnight, Wall Street ended higher, as Treasury Secretary Janet Yellen reassured investors that measures would be taken to keep deposits safe in the banking system. Dow Jones, NASDAQ Composite, and the S&P 500 indices surged up to 1 per cent.
Elsewhere in Asia, stocks fell in the morning, with Nikkei 225, Topix, Kospi, Kosdaq, and the S&P 200 indices lowering up to 0.8 per cent.
Commodity market updates
In the commodity market, prices of Brent Crude, and WTI Crude slipped by 1.7 per cent to $75 per barrel, and $69 per barrel, respectively.
Currency market updates
The Rupee was down 4 paise to 82.24 against the US dollar in early trade.
Conclusion
In conclusion, the stock market update for the day indicates a mixed performance, with gains and losses seen across various stocks, sectors, and broader markets. Investors need to keep an eye on the developments in the international markets and commodity and currency markets, which can impact the Indian stock market's performance.