Indian stock markets opened on a weak note amid mixed global cues. At 09:16 IST, the Sensex was down 269.57 points or 0.49 per cent at 54212.27, and nifty It was down 83.10 points or 0.51 per cent at 16137.50. About 950 shares have risen, 927 shares have declined and 127 shares have remained unchanged.
With Infosys, HCL Tech, Wipro, Tech M falling 1-2 per cent on the Sensex, all other IT companies also suffered losses.
Bharti Airtel was the top loser after the Adani Group announced its plans to participate in the 5G spectrum auction to build its own private network of the group and support its businesses.
On the other hand, NTPC, ONGC, Power Grid, Coal India, Axis Bank and ICICI Bank were the top winners in the two benchmarks.
Meanwhile, the broader markets opened flat. BSE Midcap and Smallcap indices were muted.
Nifty IT fell 3 per cent on TCS data. Nifty Metals, Pharma also remained in the red mark. While Nifty Bank and auto There was a slight increase in packs.
Among other stocks, Avenue Supermarts rose 2.7 per cent. The company reported a more than six-fold increase in its consolidated net profit to Rs 642.89 crore in Q1FY23.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “There are several important data points that will impact equity markets in the short term. US jobs data showed 372,000 job creation in June, which reflects a strong economy and the US economy by the Fed. Shows the growing possibility of successfully engineering a soft landing.
“A sharp fall in the prices of commodities, especially crude, metals, wheat and edible oil augurs well for inflation management in India. This means, the RBI may go a bit slow on raising interest rates in India. This positive trend is likely to provide resilience to the domestic equity market. The exhaustion of the sell-off from FIIs last week is another positive for the markets in the short term. The market structure reflects a change in investment strategy from selling on rallies in June to buying on losses in July. Segments like capital goods, auto and high quality financials indicate strength,” Vijayakumar said.
global signal
Asian stocks opened cautiously on Monday as investors prepared for reports of US inflation that could force another super-sized hike in interest rates, and start an earnings season where profits are under pressure. could. MSCI’s broadest index of Asia-Pacific shares outside Japan remained flat. South Korea lost 0.3 per cent, but Japan’s Nikkei rose 1.5 per cent.
Tokyo shares opened higher on Monday following a strong victory for Japan’s ruling bloc in Sunday’s Upper House election, just days after the assassination of former prime minister Shinzo Abe. The benchmark Nikkei 225 index was up 1.55 per cent, or 411.63 points, at 26,928.82 in early trade, while the broader Topix index rose 1.41 per cent, or 26.62, to 1,914.06.
Wall Street turned little on Friday after a volatile session in which investors tried to understand how a strong jobs report would affect the US Federal Reserve and its plans to aggressively hike interest rates.
read all breaking news, today’s fresh newswatch top videos And live TV Here.