Share Market Opening on 12 October: The domestic stock market made a slow start to trading on Thursday, the fourth day of the week. The domestic market is getting support from foreign markets, but on the other hand there is pressure due to the decline of IT stocks. Due to this, both Sensex and Nifty started trading with slight gains.
At 9.20 am, the Sensex was trading below 66,520 points with a gain of just 45 points, while the Nifty was near 19,830 points with a gain of about 20 points.
Pre-open session signals
There was a slight rise in the pre-open session today. BSE’s 30-share Sensex was up by around 100 points in the pre-open session, while Nifty was trading up by around 12 points. Nifty futures in Gifty City were also in the green zone in the morning. In this way, there were signs of the market entering the green zone.
The market has been rising for the last two days
The stock market may have started the week with a decline, but after that there is a continuous rise. After Monday’s loss, the market witnessed a rise on both Tuesday and Wednesday. On Wednesday, Sensex jumped by about 400 points and this index reached near 66,475 points. Nifty strengthened by more than 120 points and crossed 19,800 points.
Global markets remain strong
There is a bullish trend in the global market. American markets were in profit on Wednesday. The Dow Jones Industrial Average was up 0.19 percent. Whereas there was a rally of 0.71 percent in NASDAQ Composite Index and 0.43 percent rally in S&P 500. Asian markets also remain strong in today’s trading. Japan’s Nikkei is in profit of 1.21 percent. Hong Kong’s Hang Seng is trading up by about 1.85 percent.
Big shares in early trade
There is a lot of pressure on IT shares in early trade today. TCS is down the most by about 1 percent. The price has fallen today due to the company’s September quarter results being lower than market expectations.
IT stocks like Tech Mahindra and HCL Tech are also in the red zone. In the initial session, 11 out of 30 Sensex stocks are in loss. On the other hand, IndusInd Bank is up the most by about 1.25 percent. Shares like SBI, Tata Motors, Axis Bank are also controlling the market.
