All-round buying is happening in the domestic stock market. BSE Sensex is trading above 52,100. NSE Nifty seems to be moving towards 15,700. Nifty's mid-cap index and small-cap index have gained about 1%.
Like the Asian markets, the Indian market got off to a strong start. Sensex opened with a gain of 150 points. Varun Beverages' stock jumped 17%. Adani Power is up 6%. The market is getting support from buying in the indices of metals, pharma, realty, and public sector banks.
The initial strength of Nifty is coming from heavyweights like Reliance Industries, Bajaj Finance, Infosys, Hindustan Unilever, and JSW Steel. The top 5 stocks that put pressure on it include ITC, HDFC Bank, Asian Paints ICICI Bank, and Bajaj Auto.
Today the March quarter results of these companies are due: SAIL, NHPC, Century Plyboards, Cera Sanitaryware, Mazagon Dock, eClerx Services, Responsive Industries, Tide Water Oil, National Fertilizers and Mayur Unicottors.
Among the top 100 stocks of NSE, the shares of Divi's Lab, Tata Consumer, SBI Cards, Power Grid and Titan Industries have gone 52 weeks high today.
Important indices of the stock markets of Asia are strong. Hong Kong's Hang Seng, Japan's Nikkei, Korea's Kospi, China's Shanghai Composite are up 0.40% to 0.80%. Trading is being done in a limited range in the market. Investors are waiting for the US retail inflation data to come out.
There was weakness in US markets on Wednesday. The S&P500 index lost 0.2%. The Dow Jones weakened 0.4% while the Nasdaq lost 0.1%.
European markets were mixed. France's CAC gained 0.19%. Germany's DAX fell 0.38% while Britain's FTSE weakened 0.20%.
According to provisional data available on the NSE, on June 9, foreign institutional investors (FIIs) sold shares worth a net Rs 846 crore. That is, he sold shares worth so much more than the amount of shares he bought. Unlike FIIs, domestic institutional investors (DIIs) sold shares worth a net Rs 271 crore.
11.50 AM Nifty is up about half a percent. Of its 50 stocks, 38 are strong.
10.25 AM Nifty's pharma index is up 1.30%.
9.53 AM Except for Hindustan Zinc, all-metal stocks are strong.
9.49 AM Every share of BSE Realty has an edge.
9.35 AM Nifty's metal and realty index has gained more than 1%.
9.20 AM The Sensex is at 52,073 with a jump of 0.25% i.e. 130 points.
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