Partner With Us NRI

Market opens on strong note; breadth strong

Published on Feb 02, 2024 09:39

The key equity indices traded with significant gains in early trade. The Nifty traded above 21,900 level. All the sectoral indices on the NSE were in green, with oil & gas, realty and media shares gaining the most.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 811.98 points or 1.13% to 72,457.28. The Nifty 50 index added 245.05 points or 1.13% to 21,942.50.

In the broader market, the S&P BSE Mid-Cap index added 63% and the S&P BSE Small-Cap index rose 0.82%.

The market breadth was strong. On the BSE, 2,207 shares rose and 733 shares fell. A total of 92 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,879.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 872.49 crore in the Indian equity market on 1 February, provisional data showed.

Stocks in Spotlight:

Hero MotoCorp advanced 2.38% after the company sold 433,598 lakh units in January 2024, up 22% from 356,690 units sold in January 2023.

Eicher Motors fell 2.32%. The auto maker�s total motorcycles (Royal Enfield) sales rose 2% to 76,187 units in January 2024 as against 74,746 units sold in January 2023.

Ashok Leyland declined 1.92% after the company sold 15939 vehicles in January 2024, which is lower by 7% as compared with 17200 units sold in January 2023.

Mphasis shed 0.44%. The company`s consolidated net profit fell to Rs 373.6 crore in Q3 FY24 as compared with net profit of Rs 391.9 crore posted in Q2 FY24. Total income rose to Rs 3392.1 crore in Q3 FY24 from Rs 3325.5 crore recorded in Q2 FY24.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell 0.33% to 7.041as compared with previous close 7.064.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.8700, compared with its close of 82.9800 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement declined 0.45% to Rs 63,380.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was shed 0.01% to 103.04.

The United States 10-year bond yield rose 0.94% to 3.896.

In the commodities market, Brent crude for April 2024 settlement rose 54 cents or 0.69% to $ 79.24 a barrel.

Global Markets:

Most of the Asian stocks are trading higher on Friday, mirroring Wall Street�s rebound from the sell-off earlier this week after US Fed Chairman Jerome Powell indicated the U.S. Federal Reserve was unlikely to cut rates in March.

US stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday`s employment report.

Powered by Capital Market - Live News