Stock markets open in green, Sensex gains 300 points

MUMBAI: The Indian stock market indices opened in green on Monday with Sensex trading at 81,690.83 after rising 309 points or 0.38 per cent at 9.18 a.m. At the same time, Nifty was trading at 25,062.9 after rising 98.70 points or 0.40 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 981 stocks were trading in the green, while 401 stocks were trading in the red. On the Bombay Stock Exchange (BSE), 1830 stocks were trading in the green and 901 stocks were trading in the red.

Nifty Bank was at 51,357.60 after rising 185.30 points or 0.36 per cent. The Nifty Midcap index was trading at 59,220.50 level after gaining 7.80 points or 0.01 per cent. At the same time, the Nifty 100 index is at 26,132.05 after gaining 77.95 points or 0.30 per cent.

Wipro, HDFC Bank, L&T, JSW Steel, Tech Mahindra, Infosys, NTPC, and Kotak Mahindra are the top gainers in the Sensex pack. Bharti Airtel, Tata Motors, Sun Pharma, Asian Paints, Nestle, Bajaj Finserv, and Axis Bank are the top losers in the list of losers.

Asian markets are witnessing a boom. The markets of Tokyo, Hong Kong, Bangkok, Jakarta and Seoul are trading with gains. The US stock markets closed on the green mark on the last trading day.

According to market experts, "This month, through 11th October, FPIs have sold equity for Rs 58,710 crore. This massive selling didn’t have a serious impact on the market since the entire FPI selling has been absorbed by DIIs who are receiving sustained fund inflows. This trend of FII selling and DII buying is likely to sustain in the near-term since Chinese stocks continue to be cheap compared to the elevated valuations in India."

On the last trading day of last week, the Indian stock market closed in the red. The BSE Sensex closed at 81,381.36 after falling 230.05 points or 0.28 per cent at the end of trading. The NSE Nifty closed at 24,964.25 after falling 34.20 points or 0.14 per cent.

--IANS

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