Indian shares after a sustained sell-off for the past five sessions opened in the green. Earlier, the BSE Sensex rose 0.43 percent or 339.17 points to 79,741.46, while the NSE Nifty gained 0.31 percent or 74.35 points to 24,255.15. Meanwhile, the broader markets outperformed earlier indexes, with the Nify Midcap 100 up 0.61 percent.
The Bank Nifty index also showed strong support from heavyweights including ICICI Bank, SBI, Bank of Baroda and HDFC Bank among others.
Sector-wise, in the mixed session, banking, financial services, metal and IT indices are trading in the green, while all others including FMCG, Realty, oil and gas, auto and pharma indices are trading in the red.
Prashanth Tapse, Senior VP (Research), Mehta Equities said, In the last week, the Nifty closed 2.7 percent lower, poised for its worst monthly performance since March 2020, while the Bank Nifty fell 2.51 percent . This week, volatility is expected, including key factors including US Non-Farm Payrolls, the upcoming US presidential election, continued FII outflows exceeding Rs 1,00,242 crore in October, rising tensions in the Middle East, and rising prices. of WTI oil above $71.75. .
Shares are active
Interglobe Aviation shares took a nosedive after the airline posted a loss in the July-September period of Rs 987 billion.
Similarly, shares of ICICI Bank will focus after reporting a strong Q2 showing. Ahead of its results, the stock in the previous session ended marginally higher at Rs 1,255.5 per share.
Other major stocks due to release their Q2 results today are Sun Pharma, Bharti Airtel, Ambuja Cement and Adani Power among others.
Asian markets
In early trade, Asian markets traded positive as concerns about Israel-Iran tensions eased amid Israel’s terror attacks. At last count, the main MSCI Asia ex Japan index is currently trading with a negative bias.