Indian Stock Market Today: Nifty, Sensex, and Top Stocks in Focus
The Indian stock market is expected to open on a positive note, with the Nifty futures trading marginally higher at 25,402. The Sensex and Nifty ended the previous trading session with mixed results, with the Sensex slipping 575.45 points, or 0.70%, to 82,605.43, while the Nifty rose 178.05 points, or 0.71%, to 25,323.55.
Nifty and Sensex: A Review of the Previous Trading Session
The Nifty ended the previous trading session in the green, snapping its two-day fall. The foreign portfolio investors (FPIs) turned net buyers of Indian shares, purchasing stocks worth approximately Rs 69 crore, according to provisional data from the National Stock Exchange. The domestic institutional investors (DIIs) continued their buying streak, purchasing stocks worth Rs 4,650 crore.
Global Market Cues: US-China Trade Tensions and Oil Prices
Asian stocks rose at the open, following a volatile session in the US markets, as investors weighed renewed US-China trade tensions. The Hang Seng futures jumped 0.35%, while Japan’s Nikkei rose 0.95%. Australia’s S&P/ASX 200 was 0.91% higher. In the US, the Dow Jones fell 0.04%, while the S&P 500 rose 0.4% and the Nasdaq rose 0.66%.
Oil prices rebounded from a five-month low, with Brent crude climbing above $62 a barrel and West Texas Intermediate hovering around $59. Gold surged to a new record high, gaining nearly 5% this week, as escalating US-China tensions and expectations of continued Federal Reserve rate cuts boosted demand for the metal.
Top Stocks in Focus: Q2 Results and Corporate Actions
Several top stocks are in focus today, including Axis Bank, HDFC Life, and Oberoi Realty, which reported their Q2 results. Axis Bank reported a 26.4% decline in net profit, while HDFC Life reported a 3% increase in net profit. Oberoi Realty reported a 29% increase in net profit.
Other stocks in focus include Wipro, Infosys, Eternal, Nestle India, Mastek, and Waaree Energies, among others.
Nifty Options: Maximum Call Open Interest at 26,000
The Nifty options show maximum call open interest at 26,000 and maximum put open interest at 25,300. The Nifty Oct futures are trading at a premium of 112 points, with open interest up 0.89%.
Rupee vs US Dollar: A Review of the Currency Markets
The rupee settled sharply higher against the US dollar, despite paring some gains from its intraday high. The Indian currency settled 73 paise stronger against the US dollar at 88.07, emerging as the best-performing Asian currency with a 0.82% appreciation against the greenback.
Conclusion: Indian Stock Market Today
The Indian stock market is expected to open on a positive note, with the Nifty futures trading marginally higher. The top stocks in focus include Axis Bank, HDFC Life, and Oberoi Realty, which reported their Q2 results. The Nifty options show maximum call open interest at 26,000 and maximum put open interest at 25,300. The rupee settled sharply higher against the US dollar, emerging as the best-performing Asian currency.
