The Indian stock market opened on a positive note today as the benchmark indices Sensex and Nifty started trading in the green. The BSE Sensex was up by 123 points at 52,664 while the NSE Nifty rose by 37 points to trade at 23,350.
At around 9:20 am, shares of major companies such as ITC and Reliance Industries Ltd (RIL) were among the top gainers pushing the indices further up. Meanwhile, IT company Tata Consultancy Services (TCS) saw a dip in its share price, weighing down the market.
The market sentiment has been positive since the beginning of this week as lockdown restrictions have eased and COVID-19 cases continue to decline in India. This has led to hopes of economic recovery and boosted investor confidence.
However, experts warn that the rise in stock prices may be temporary and investors should remain cautious as uncertainties still surround the global economy due to the pandemic.
In terms of sector-wise performance, Nifty Pharma index was up by 0.8 percent while Nifty FMCG index rose by 0.5 percent. On the other hand, Nifty IT index fell by 0.6 percent.
In global markets, Asian stocks were trading mixed as concerns over inflation and rising COVID-19 cases in some countries continued to weigh on investor sentiment.
Investors will be closely monitoring the RBI’s monetary policy announcement today, which is expected to keep interest rates unchanged while providing further support to the economy through liquidity measures.
Experts believe that any major announcements made by RBI could impact the stock market and bring about a change in the current trend of positive sentiments. Therefore, investors must remain vigilant and make informed decisions based on thorough research and analysis.
Overall, the stock market is expected to continue its volatile trend in the coming days with mixed performance across different sectors. It is important for investors to keep a diversified portfolio and stay updated with market trends in order to make sound investment decisions.
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