Stock market opens flat, Asian markets showed mixed performance
Sep 03, 2024
Mumbai (Maharashtra) [India], September 3 : The Indian equity market on Tuesday opened flat note. The Benchmark indices BSE sensex opened at 82,652.69, up by 92.85, and Nifty at at 25313.40, up by 34.70.
During the opening hour, stocks of Sun Pharma, ITC, Hindalco, Hindustan Unilever, Shriram Finance were the top gainers, while Bajaj Finance, Infosys, Bajaj Auto, Bharat Petroleum Corporation Ltd, and Titan were the top losers.
Sectoraly, at National Stcok Exchange (NSE), Bank, Auto, Financial Services, IT, Media, PSU and Private Banks opened in the red territary. Remaining sectoral stocks such as FMCG, Metal, Pharma, Realty, Healthcare, and Consumer Durables opened in the green.
"This pattern suggests a gradual upward momentum within a narrow range. Although the Nifty has surged recently, the overall market breadth remains weak, which is concerning. The short-term trend for the Nifty 50 remains positive, but the index is encountering resistance around the 25,350 level," said Varun Aggarwal MD, Profit Idea.
After the cabinet's approval for procurement of 240 aero-engines for Su-30 MKI aircraft worth Rs 26,000 crore, the stocks of Hindustan Aeronautics were up more than 3 per cent in the initial hour of the trading.
Foreign institutional investors (FIIs) purchased shares worth Rs 1,735.46 crore, while domestic institutional investors (DIIs) bought shares worth Rs 356.37 crore on September 2, 2024, as per provisional NSE data.
In the Asia-Pacific region, markets showed mixed performance on Tuesday morning. The Asia Dow rose by 0.48 per cent, Japan's Nikkei 225 gained 0.67 per cent, and South Korea's KOSPI increased by 0.12 per cent. However, China's Shanghai Composite index fell slightly by 0.01 per cent.
In the Asia-Pacific region, markets showed mixed performance on Tuesday morning. The Asia Dow rose by 0.48 per cent, Japan's Nikkei 225 gained 0.67 per cent, and South Korea's KOSPI increased by 0.12 per cent. However, China's Shanghai Composite index fell slightly by 0.01 per cent.
