Opening bell: Sensex peaks at 59,300, Nifty surpasses 17,700, top gainers are M&M and Tata Steel

Opening Bell.

Indian Market
by 5paisa Research Team Last Updated: 2022-08-26T11:41:11+05:30

On buying demand in index pivotal, the benchmark indices are currently trading with big gains.

Nifty trades were above the 17,650 level. The NSE's sectors indices were all up, with metal, IT, and consumer durables stocks seeing the biggest gains. Positive Asian stocks enhanced the sentiment. The S&P BSE Sensex, the barometer index, increased 486.77 points, or 0.83%, to 59,261.49 at 09:28 AM. The Nifty 50 index rose 141.30 points or 0.81% to 17,663.75. The S&P BSE Small-Cap index increased 0.87%, while the S&P BSE Mid-Cap index increased 0.82% in the overall market.

Market breadth was substantial as 2,109 shares increased and 526 shares decreased on the BSE and 102 shares in total remained unchanged. On August 25, shares worth Rs 369.06 crore were purchased by foreign portfolio investors (FPIs), while Rs 334.31 crore worth of shares were sold by domestic institutional investors (DIIs).

Nelco reached the 10% upper circuit limit. Through a partnership with Nelco, Intelsat announced the launch of its in-flight connectivity services in Indian airspace. After the company announced that activities at its Bilaspur Unit had resumed, Goa Carbon gained 4.39%. The Syrma SGS Technology IPO, whose shares will start trading on bourses today, will be in the spotlight as the September series begins on Friday.

As investors anticipate Fed Chair Jerome Powell's address at Jackson Hole later in the day in the United States, Asian markets are trading higher on Friday. Nvidia and other technology-related stocks helped Wall Street close the day substantially higher on Thursday as investors watched the Federal Reserve's Jackson Hole conference for hints about the direction of the central bank's policy. Investors are anticipating Friday's speech by Federal Reserve Chair Jerome Powell at the Jackson Hole economic symposium. Fed observers anticipate him to support the institution's mission to fight inflation and restrain expectations for future price increases.


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