All-round buying is taking place in the domestic stock market on the first trading day of the week. Both BSE Sensex and NSE Nifty have gained more than half per cent. Sensex is trading near 52,800 while Nifty is above 15,800. Nifty's mid-cap index is up more than half a percent. The small-cap index is up almost 1%.
Most of the Nifty sector indices are in the green. The biggest jump is in Nifty Realty. It has a strength of about two percent. The market is getting support from buying in Eicher Motors, Bajaj Auto, Hindalco, UltraTech Cement, Axis Bank, Power Grid and TCS. Dr Reddy's, JSW Steel, HDFC Life, Cipla, Tech Mahindra are selling.
Domestic equity markets gave a strong start amid strong trends in overseas markets. The 30-share Sensex of BSE opened at 52,682 with a gain of nearly 200 points. The 50-share Nifty of NSE started trading at 15,793 with a strength of 71 points.
On Friday, the domestic stock market closed strongly due to buying in the last one hour of trading. The Sensex closed at 52,484, up 166 points (0.32%). Nifty was at 15,722 with a strength of 42 points or 0.27%. The market got big support for buying in ICICI Bank (1.53%) and RIL (1.50%).
The Volatility Index India VIX has gained 2.65% on the first trading day of last week. An increase in the volatility index indicates how much the Nifty is likely to move on a yearly basis in the next 30 days. A rise in the India VIX from lower levels indicates increased movement with the market remaining firm.
Shares of India Pesticide (IPL) were listed on NSE at Rs 350 with a premium of 18.24%. The issue price band of its IPO was Rs 290-296. On BSE, it got listed at Rs 360 with a premium of Rs 64 ie 21.62%. Open for subscription from June 23 to 25, the issue of 1.93 crore shares was subscribed 29.04 times.
According to provisional data available on the NSE, on Friday, July 2, foreign institutional investors (FIIs) sold shares worth a net Rs 982 crore. That is, he had sold shares worth so much more than the amount of shares he had bought. Domestic institutional investors (DIIs) had bought shares worth a net Rs 930 crore.
There was a mixed trend in most of the stock markets of Asia today. China's Shanghai Composite was up 0.44% at the end of trading. Japan's Nikkei index closed with a weakness of 0.62%. Hong Kong's Hang Seng is down about 0.3%. Korea's Kospi gained 0.35%. Australia's All Ordinary closed with a marginal gain of 0.03%.
On Friday, the US markets remained strong. The Dow Jones closed up 0.44%. The Nasdaq gained 0.81%. The S&P 500 gained 0.75%. However, there was a mixed trend in the European markets. Britain's FTSE was down 0.03% and Germany's DAX was down by 0.02%. The CAC gained 0.30%.
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