Stock Market Update: Nifty crosses 17450 with New Record, Sensex is trading at 58500

The market opened flat. Sensex opened at 58,354 and Nifty opened at 17,387. At present, Sensex is trading up 80 points at 58,330 and Nifty is up 30 points at 17,410.
Image Credit: India Today
Image Credit: India Today

The market opened flat. Sensex opened at 58,354 and Nifty opened at 17,387. At present, Sensex is trading up 80 points at 58,330 and Nifty is up 30 points at 17,410. Out of 30 stocks of Sensex, 21 stocks are rising and 9 stocks are trading in the red mark. In which Titan's share is trading with a gain of 2% and Bharti Airtel's share by more than 1%.

The Indian market taking weak global cues opened in positive territory, the benchmark BSE Sensex opened at  58,311.33, up 64.24 points, or 0.11 percent. However, the broader Nifty was trading at 17,402.05, up 22.05, or 0.13 percent. On NSE, ONGC, Shree Cement, Titan, Hero Motocorp were among the top gainers while BPCL, Axis Bank, Tata Steel, IndusInd Bank were among the laggards. In early trade 33 shares advances, 16 declined and 1 remained unchanged.

Buying is being seen in auto and realty shares. On the NSE, the auto index is seen trading with a gain of 0.63% and the realty index by 0.76%. 2,436 shares are being traded on BSE. In which 1,728 shares are seen with an increase and 610 shares are seen trading in the red mark. With this, the total market cap of companies listed on BSE has crossed Rs 258 lakh crore. Earlier on Tuesday, the Sensex climbed 69 points to 58,247 and the Nifty climbed 24 points to close at 17,380.

US stock market

Earlier, the US stock market closed in the red mark. The Dow Jones closed at 34,577 with a weakness of 0.84%. The Nasdaq fell 0.45% to 15,037 and the S&P 500 lost 0.57% to 4,443.

CPI inflation in the US for August coming at below expectations at 5.3 % gives credence to the Fed's view that inflation is transient. This can support further FPI inflows into India, which, in turn, can impart resilience to the market. But investors should remember that these positive developments are pushing valuations very high.

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