IANS | 07 Jun, 2024
India equity indices were trading in the green on Friday after a flat
open.
On Friday, the decisions of the ongoing Monetary Policy Committee (MPC)
to review interest rates will be announced by Reserve Bank of India (RBI)
Governor Shaktikanta Das.
At 9:40 a.m., Sensex was at 75,447, up 372 points or 0.50 per cent and
Nifty was at 22,941, up 120 points or 0.53 per cent.
Midcap and smallcap shares are outperforming benchmarks. The Nifty
Midcap 100 index is at 52,773 points, up 359 points or 0.69 per cent, and the
Nifty Smallcap 100 index is at 17,010 points, up 180 points or 1.10 per cent.
Among all sectoral indices, IT, Fin Service, Realty, Metal and Pharma
indices are the major gainers.
India VIX was up marginally by one per cent at 16.96 points.
Wipro, Tech Mahindra, Infosys, TCS, Bajaj Finance and Bajaj Finserv are
the top gainers. L&T, IndusInd Bank, HUL, ITC and Kotak Mahindra Bank
are the top losers.
Most of the markets in Asia are trading in the red. Bangkok, Tokyo, Hong
Kong, Shanghai and Jakarta are trading with losses. Only Seoul markets are in
the green. US markets closed mixed on Thursday.
Crude oil remains flat. Brent crude is at $80 per barrel and WTI crude
at $75 per barrel.
According to the experts, "In the near-term, the market is likely
to be weighed down by the huge FII selling which has touched Rs 24960 crore
cumulatively during the last three days. Therefore the largecaps in sectors
like financials and IT where FIIs have huge assets under management may
underperform."
"This trend will change when FIIs turn buyers, which is
inevitable," they added.
--IANS