Opening Bell: Markets edge higher after a lower opening amid surge in US inflation rates; India VIX declines 6.84 per cent
On the sectoral front, BSE Metal index is shining gaining up to 1.34 per cent while the other sectoral indices are trading flat.
In line with the Asian markets and taking cues from SGX Nifty, the domestic equity market opened lower after inflation in the US zoomed to nearly 8 per cent, the fastest in four decades. Around 9 am, SGX Nifty Futures declined 0.41 per cent or 68 points to 16,502 levels on the Singaporean exchange, indicating a weak opening for the domestic benchmark indices. India VIX has contracted 6.84 per cent, declining to 30.23 level in the initial hour of the trading session
On Friday, benchmark indices Nifty and the Sensex opened nearly 0.5 per cent lower as the former opened at 16,528.80 level, while the latter opened at 55,218.78 level. In the broader markets, BSE Midcap index opened at 23,215.84 level while BSE Smallcap index started the trading session at 26,963.34 level. At 9.41 am, BSE Midcap index was trading 0.94 per cent higher whereas BSE small cap index was trading 0.94 per cent higher, outperforming benchmark index.
The top gaining stocks within Sensex were Tata Steel, Axis Bank, Sun Pharmaceutical Industries, Bajaj Finserv and Bajaj Finance. The top losers dragging the index are Nestle India, Maruti Suzuki, Infosys, Tech Mahindra and Wipro
Among the Nifty index, the top gainers were JSW Steel, Tata Steel, Axis Bank, Hindalco Industries and Sun Pharmaceuticals. Nifty50 top losers included Tata Consumer, Tata Motors, Nestle India, Maruti Suzuki and Infosys.
On the sectoral front, BSE Metal index is shining gaining up to 1.34 per cent while the other sectoral indices are trading flat. Within BSE Metal index, the top gaining stocks pulling the index up are NMDC, JSW Steel, SAIL, Tata Steel and Jindal Steel.