Mumbai (Maharashtra) [India], October 24 (ANI): Indian stock markets opened on a flat observe on Friday as traders remained in a wait-and-watch mode amid anticipation of an official announcement on a attainable US-India commerce deal.
The Nifty 50 index opened at 25,935.10 factors, gaining 43.70 factors or 0.17 per cent, whereas the BSE Sensex opened at 84,667.23, up by 110.83 factors or 0.13 per cent.
Market specialists mentioned investor optimism stays excessive concerning the proposed commerce deal between India and the United States, though no official affirmation has been made but.
Ajay Bagga, Banking and Market Expert, advised ANI, ‘Indian markets noticed a spot up and given the speak of a attainable US-India commerce deal, export-oriented sectors like textiles and IT noticed a robust restoration. Even although PM Modi will not be travelling to Malaysia for the ASEAN summit, and can therefore not be having a gathering with US President Trump, the deal optimism is excessive. Domestic political compulsions imply that any deal shall be introduced put up the Bihar elections. FIIs turned web sellers as some profit-taking set in by the afternoon in markets.
In the broader market indices on the NSE, apart from Nifty Midcap, which gained marginally by 0.02 per cent, all different main indices, together with Nifty 100, opened below stress.
Among the sectoral indices on the NSE, Nifty Metal index surged greater than 1.12 per cent, whereas Nifty Realty additionally gained marginally. However, different sectors got here below promoting stress, with Nifty FMCG declining by 1.27 per cent and Nifty Pharma dropping 0.75 per cent.
Globally, the latest sanctions imposed on two prime Russian crude oil corporations additionally weighed on market sentiment.
Additionally, the sharp fall in gold and silver costs this week created a adverse wealth impact. However, specialists famous that decreasing Russian oil revenues may speed up a attainable Ukraine-Russia peace deal, doubtlessly brokered by the US.
Key corporations scheduled to announce their Q2 FY26 outcomes at the moment embrace Dr Reddy’s Laboratories, SBI Life Insurance Company, ITC Hotels, Coforge, Aditya Birla Sun Life AMC, Brigade Hotel Ventures, eClerx Services, Jinkushal Industries, Latent View Analytics, NACL Industries, and SBI Cards.
Vaishali Parekh, Vice President – Technical Research at PL Capital, mentioned, ‘Nifty index is nearly close to to retesting the earlier peak zone of the 26300 degree and would have the essential assist positioned close to the development line zone on the 25400 degree, which must be sustained to hold on with the constructive development additional forward.’
In different Asian markets, Japan’s Nikkei 225 index surged 1.37 per cent, Hong Kong’s Hang Seng index rose by 0.60 per cent, Singapore’s Straits Times surge 0.37 per cent, South Korea’s KOSPI index rallied greater than 2 per cent and Taiwan’s market closed for vacation. (ANI)