Opening bell: Indian indices trade with respectable gains amid conflicting Asian peers

Opening bell: Indian indices trade with respectable gains amid conflicting Asian peers

Indian Market
by 5paisa Research Team Last Updated: 2022-08-30T10:37:10+05:30

On the NSE, all sectoral indices were trading in the green.

 In the morning trade, the Nifty is near 17,450, while Sensex is up over 400 points; Bajaj twins, and IndusInd Bank are top gainers. The S&P BSE Sensex, the barometer index, increased 439.4 points, or 0.76%, to 58,412.02 at 09:28 am. The Nifty 50 index increased 17,456 points, or 143.10 points, or 0.83%. The S&P BSE Small-Cap index rose 1.17%, while the S&P BSE Mid-Cap index increased 1.01% in the overall market. Market breadth was substantial with 2,205 shares increased and 469 shares decreased on the BSE and 92 shares in total remaining unchanged.

According to preliminary statistics, on August 29, foreign portfolio investors (FPIs) sold shares worth Rs 561.22 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 144.08 crore.

Mahindra & Mahindra had a rise of 0.81% after announcing the launch of the Zor Grand, an entirely new cargo electric three-wheeler from Mahindra Electric Mobility (MEML). The premium Mahindra model has a starting price of Rs 3.60 lakh, ex-showroom Bangalore. The Krishna Institute of Medical Sciences (KIMS) saw a growth of 2.73%. The business has signed a legally binding agreement to buy a majority (51% of) the shares of M/s SPANV Medisearch Lifesciences Private Limited, Nagpur, which operates the multi-speciality hospital known as "Kingsway Hospitals" and has more than 300 beds.

Following significant drops to start the week following the Jackson Hole address by Fed Chair Jerome Powell, Asian equities traded in a mixed manner on Tuesday. According to official figures, Japan's unemployment rate stayed the same in July at 2.6%, matching forecasts and remaining steady for the third month. Due to persistent worries about the Federal Reserve's intention to quickly raise interest rates to combat inflation even as the economy slows, US markets finished down on Monday, compounding the severe losses from the previous week.


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