Indian Stock Market Update: Mixed Performance, Positive Momentum in Mid & Small-Cap Sectors
Key Ideas
- Benchmark indices showed limited losses with Nifty trading below 25,350, led by declines in FMCG, IT, and financial services shares but gains in media, metal, and realty sectors.
- Mid-Cap and Small-Cap indices outperformed, showing a rise of 0.42% and 0.68% respectively.
- Foreign investors bought shares worth Rs 7,695 crore, while domestic institutional investors were net sellers at Rs 1,800.54 crore.
- Bharat Petroleum Corporation approved a joint venture for Green Hydrogen and setting up CBG plants, while SBI Cards and Payment Services plans to raise funds via NCDs.
In the Indian stock market, the benchmark indices displayed limited losses in early trade, with the Nifty trading below the 25,350 mark. While sectors like FMCG, IT, and financial services witnessed declines, there were gains in media, metal, and realty shares. The S&P BSE Sensex fell 229.39 points to 82,738.92, and the Nifty 50 index lost 66.60 points to 25,322.30. The broader market performed well, with the Mid-Cap index rising by 0.42% and the Small-Cap index gaining 0.68%. Foreign investors were active, buying shares worth Rs 7,695 crore, while domestic institutional investors were net sellers at Rs 1,800.54 crore.
On the economic front, India's retail inflation slightly rose to 3.65% in August, staying within the RBI's target range. Additionally, the Index of Industrial Production (IIP) saw a slight increase to 4.83% in July. Notable stocks included Bharat Petroleum Corporation, which approved a joint venture for Green Hydrogen and setting up CBG plants. SBI Cards and Payment Services announced plans to raise funds through NCDs.
In global markets, Asian stocks traded mixed as investors awaited news on a possible US Federal Reserve interest rate cut. US markets closed higher, driven by positive inflation data. European Central Bank implemented an interest rate cut and adjusted its economic growth projection. Overall, the sentiment in the Indian stock market remained positive, with a focus on sectoral performances and global market dynamics.
Topics
India
Stock Market
Global Markets
Economy
Commodities
Industrial Production
Foreign Investors
Retail Inflation
Currency Market
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