Domestic Stock Markets Open Strong; Forex Market Shut
Benchmark indices rally on Monday as Tata Steel, Tata Motors and SBI drive gains; forex market shut for Eid-e-Milad.
- Sensex up 237 pts at 80,948; Nifty up 68 pts at 24,809.
- Gainers: Tata Steel, Tata Motors, Hindalco, SBI.
- Losers: SBI Life, Asian Paints, Kotak Bank, Trent.
- Metals, oil & gas, power, realty up; consumer durables down.
GG News Bureau
Mumbai, 8th Sep: Domestic stock markets began the week on a positive note as the BSE benchmark Sensex opened 237.31 points higher at 80,948.07 at 9:15 am on Monday. Similarly, the NSE Nifty gained 68.95 points to trade at 24,809.95.
In early trade, Tata Steel, Tata Motors, Shriram Finance, Hindalco and SBI emerged as the top gainers on Nifty, while SBI Life Insurance, Asian Paints, Kotak Mahindra Bank, Trent and Tata Consumer Products witnessed declines. The BSE Midcap and Smallcap indices were seen trading steady.
Sectorally, metals, oil & gas, power and realty rose around 0.5% each, while consumer durables slipped by 0.5%.
Meanwhile, the foreign exchange market will remain closed today as the Maharashtra government shifted the public holiday for Eid-e-Milad to September 8 instead of September 5.
Asian Market Trends
According to LiveMint, most Asian stock markets recorded gains on Monday as investors assessed the situation following the resignation of Japan’s Prime Minister Shigeru Ishiba and monitored key regional economic data.
Japan’s Nikkei 225 rose 0.95%, while the Topix index climbed 0.51%. South Korea’s Kospi advanced 0.15% and the small-cap Kosdaq was up 0.47%.
However, Australia’s S&P/ASX 200 slipped 0.38%. Hong Kong’s Hang Seng futures were trading at 25,344, slightly below the previous close of 25,417.98.
Investors are also awaiting China’s August trade data, which could influence the coming sessions.
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