The domestic stock markets are trading with slight gains. Investors' attention has shifted to small and medium stocks. The Nifty Mid Cap Index is up almost 1%. The small-cap has about half the strength. The market is getting support from strong buying in metal stocks. Nifty Metal is trading with a jump of more than 2.5%. The index of public sector banks has also risen by about 2.5 percent. Firm and auto sector indices are up nearly 1-1%. The Nifty FMCG index is down almost half a percent.
Sensex is getting support from ICICI Bank, HCL Tech, Maruti, SBI, and Axis Bank. RIL, HUL, Asian Paints, Nestle India, and Kotak Bank are under selling pressure. Due to these stocks, Nifty is also under pressure. It is supported by buying in Tata Steel, JSW Steel, Hindalco, Tata Motors, and ICICI Bank.
The shares of Sona Comstar and Shyam Metaliks, which were listed on the stock exchanges on Thursday, gained about 5%. Currently, Gold is trading 30% above Comstar's issue price, while Shyam Metaliks is up 29%. Yesterday, the stock of Sona Comstar closed with a jump of Rs 70.20 (24.12%) on the NSE. The stock of Shyam Metaliks was at Rs 376 with a gain of 22.92%.
Shares of Reliance Industries fell nearly two percent in early trade. The company's AGM was held yesterday, in which Mukesh Ambani announced many important business decisions. The company has decided to invest a total of Rs 75,000 crore in the green business. The volatility index, India VIX, is down 8%. This weakness suggests that in the next 30 days, the Nifty can climb this much on a yearly basis. A fall in this volatility index suggests that the stock market may continue to rally. A rise from the lower levels is a sign of increasing movement with the market remaining firm.
With the approval of plans for spending on infrastructure in the US, there was a strong trend in the stock markets around the world. Due to this, the stock markets gave a strong start on the last trading day of the week. BSE Sensex opened up 78 points at 52877. NSE Nifty opened at 15,839 with a gain of 50 points. During trading, the Sensex touched 52,900, while the Nifty went up to 15,844.
Earlier, on the expiry day of June series deals in the futures market, the stock markets closed strongly on Thursday. NSE's 50-share Nifty was up 103 points, or 0.66%, at 15,790 points. The 30-share BSE Sensex closed at 52,699 with a gain of 393 points, or 0.75%. Yesterday was the AGM of RIL. Its shares fell about 3%.
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