Business

Indian Markets Open Positively; Driven By Asian Trends

Indian equity markets started positively on Wednesday, buoyed by encouraging trends from Asian markets.

At 9:41 AM, the Sensex climbed 82 points, or 0.10%, to 81,542, while the Nifty advanced 30 points, or 0.12%, to 24,887.

The National Stock Exchange (NSE) saw a largely positive sentiment with 1,507 shares trading higher and 480 shares trading lower.

The Nifty Midcap 100 index rose 169 points, or 0.29%, to 58,792, whereas the Nifty Smallcap 100 index dipped 60 points, or 0.31%, to 19,146.

The sector-wise performance showed a mixed picture. Gains were seen in the Pharma, FMCG, Metal, Financial Services, and Media indices.

In contrast, Realty, Energy, and PSU Bank indices witnessed declines.

Within the Sensex pack, the top performers included NTPC, Asian Paints, JSW Steel, ITC, ICICI Bank, Bharti Airtel, HDFC Bank, Tech Mahindra, Tata Steel, Maruti Suzuki, HUL, and Nestle.

Conversely, Tata Motors, Power Grid, IndusInd Bank, and Axis Bank were among the major laggards.

The Securities and Exchange Board of India (SEBI) recently proposed new regulations for Futures and Options (F&O) trading aimed at curbing market speculation.

Market experts welcomed SEBI’s move, suggesting it could contribute to a healthier and less speculative rally.

They noted that the overenthusiasm of retail investors, especially those new to the market post-Covid crash, might pose long-term risks.

Global markets showed a bullish trend, with markets in Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta trading higher.

However, the US markets ended on a mixed note on Tuesday.

Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth Rs 5,598 crore on 30 July.

Meanwhile, Domestic Institutional Investors (DIIs) purchased equities worth Rs 5,565 crore on the same day.

Also Read: Vistara Introduces Free 20-Minute Wi-Fi On International Flights; A First For Indian Airlines

Mankrit Kaur

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