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Today, on Tuesday (September 3), the Indian stock market started sluggishly. Sensex-Nifty opened with a slight gain, but as soon as it opened, slight profit booking was seen in the market, due to which the business remained flat. Sensex opened 93 points higher at 82,652. Nifty opened 35 points higher at 25,313 and Bank Nifty opened 40 points higher at 51,479. Today private banks and IT remained weak and FMCG and pharma stocks rose.
Stock markets opened flat on Tuesday amid global cues. The NSE Nifty 50 opened 0.04% higher at 25,288.70 while the BSE Sensex opened 9.80 points or 0.01% lower at 82,550. Broader indices opened in the green. The Bank Nifty index opened 56 points lower at 51,383.25. Hindalco Industries, Coal India, Shriram Finance, Cipla and ONGC were major gainers in the Nifty while Grasim Industries, Kotak Mahindra Bank, Dr. Reddy's Labs, Coal India and Asian Paints were among the losers.
Market sluggish after 13 days of gains
After 13 consecutive days of record highs, the domestic stock market fell on Tuesday. On the second trading day of the week, at 10:08 am, the Sensex was seen trading 71.70 (0.08%) points higher at 82,487.94. At the same time, the Nifty rose 25.46 (0.10%) points to 25,253.25. HAL shares rose 3% while Airtel shares fell 2%.
Such a trend is seen in the pre-open session
The market witnessed a slight rise in the pre-open session. In the pre-open session, the Sensex rose by more than 90 points to cross 82,650 points, while the Nifty was trading up by about 35 points near 25,315 points. Nifty futures looked strong in GIFT City before the market opened in the morning. Nifty futures reached 25,355 points with a premium of about 17 points.
The market had a great start to the week
Earlier, on Monday, the first day of the week, the domestic stock market again reached a new record high. In yesterday's trading, the Sensex closed at 82,559.84 points, up 194.07 points (0.24 per cent). Earlier, the Sensex touched an intraday high of 82,725.28 points, which is a new all-time high for the Sensex. Similarly, the Nifty ended trading at 25,278.70 points, up 42.80 points (0.17 per cent). During trading, the Nifty managed to touch a new all-time high of 25,333.65 points.
Status of global stock markets
US markets were closed on Monday on the occasion of Labor Day. The Dow Jones Industrial Average was down 0.10 percent in future trading. Asian markets are trading higher today. Japan's Nikkei was up 0.18 percent, while the Topix was up 0.38 percent. South Korea's Kospi was up 0.17 percent and Kosdaq was up 0.02 percent. However, Hong Kong's Hang Seng index is showing signs of a poor start today.
Finance stocks fall at the open
In early trade, most banking and finance stocks on Sensex were in loss. Bajaj Finance suffered the maximum loss of 1.20 percent. Bajaj Finserv fell more than 0.70 percent. IT stocks like Tech Mahindra, Infosys, HCL Tech and TCS are also selling. At the same time, ITC is the strongest by about 0.50 percent. Stocks like Sun Pharma and Tata Motors are also strong.