Share Market LIVE: Nifty and Sensex Record Hiked Opening

BSE Sensex and NSE Nifty have lost early gains. Both Nifty and Sensex had opened record highs today.
Share Market LIVE: Nifty and Sensex Record Hiked Opening

BSE Sensex and NSE Nifty have lost early gains. Both Nifty and Sensex had opened record highs today. There is a slight decline in the Nifty that opened at 15,915, up 55 points from Friday's closing level. Apart from this, the open Sensex at 53,126 is trading below 52,900.

The stock markets started off strong on the first trading day of the week. The 30-share Sensex of BSE opened above 53,000 with a gain of 100 points. NSE's 50-share Nifty also gave a strong start today. It had previously opened at a record high of 15,915.

A lot of buying in small and medium stocks

The mid-cap and small-cap indices of Nifty have a strength of almost half per cent. Among the sectoral indices, Nifty PSU Bank, Metal and Pharma are up about 1%. The market is under selling pressure in Nifty IT and media.

The market is getting strong support from ONGC, NTPC, Dr Reddy's Lab, Nestle India, Power Grid and Asian Paints. Selling pressure is building in HDFC Life, Titan, TCS, SBI, Bharti Airtel, Bajaj Finserv and Coal India.

Initially, the domestic markets were influenced by strong trends in the US markets. However, Asian markets are trading with weakness today. The domestic market is getting support from public sector banks, pharma and metal stocks. There is weakness in the IT and Media Sector Index of Nifty.

Strong listing of KIMS and Dodla

The shares of Krishna Institute of Medical Sciences (KIMS) and Dodla were listed on the stock exchanges. The stock of KIMS got listed at Rs 1,009 with a premium of 22.3% over the issue price on BSE and NSE. Dodla shares were listed on the BSE at Rs 528 with a premium of Rs 100, or 23.36%. Its sting on NSE was Rs. 122.00 i.e. 28.50% above the issue price at Rs. 550.00.

On Friday, the stock markets closed strongly for the second consecutive day. The Sensex was up 226 points, or 0.43%, at 52,925. Nifty climbed 72.55 points (0.46%) to close at 15,863. Investors also made substantial purchases in small and medium stocks. The Nifty Mid Cap index had gained 1.10% while the Small Cap had gained 0.54%.

Weakness in Asian markets

There is a trend of weakness in all the important stock markets of Asia. Japan's Nikkei index is down about 0.10%. Hong Kong's Hang Seng, China's Shanghai Composite and Korea's Kospi fell marginally by 0.05%. Australia's All Ordinary is about 0.10% weaker.

US market gain

On Friday, there was a strong rally in the US markets. The Dow Jones closed with a jump of 0.65%. However, the Nasdaq had a slight weakness of 0.06%. However, the S&P 500 gained 0.33%. European markets had mixed trends. Britain's FTSE (0.37%) and Germany's DAX (0.12%) closed with gains. There was a weakness of 13% in CAC.

FII and DII data

According to provisional data available on the NSE, on Friday, June 25, foreign institutional investors (FIIs) sold shares worth a net Rs 678 crore. That is, he sold shares of so many rupees more than the amount of shares he had bought. Domestic institutional investors (DIIs) had bought shares worth a net Rs 1,832 crore.

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