ANI
20 Nov 2023, 09:57 GMT+10
New Delhi [India], November 20 (ANI): Indian stock indices started fresh week largely on a steady note, with weak cues from global benchmark US markets coupled with uncertainty over monetary policy rates in the United States.
At the opening bell, Sensex and Nifty indices in India were less than 0.1 per cent lower from their Friday closing. Among the Nifty 50 stocks, Coal India, Divis Labs, Apollo Hospitals, HCL Technologies, and NTPC were the top five gainers, while Axis Bank, Nestle India, Mahindra and Mahindra, Kotak Mahindra Bank, and Asian Paints the losers.
Among the sectoral indices, Nifty IT, Nifty realty, Nifty pharma, and Nifty PSU bank were the top gainers, while Nifty private bank was the top loser.
"Our view is that the overall market situation is positive, but due to a temporary overbought situation, we may see some range-bound action," said Shrikant Chouhan - Head Equity Research, Kotak Securities.
Till last week, markets extended their bullish tone for the third successive week and gained over a per cent.
"Global cues are largely dictating the trend and we expect this trend to continue in the coming week as well. Among all the major indices, the US markets are showing noticeable strength and have recovered considerably in the last three weeks," said Ajit Mishra, SVP - Technical Research, Religare Broking.
Going ahead, the US Federal Open Market Committee minutes from its last meeting, due on Tuesday, will be eyed by investors for fresh market direction.
"There is momentum in large-cap IT stocks. The expectation that the US will not tip into a sharp recession has improved the prospects for IT. Autos, telecom, capital goods and construction-related segments are likely to remain resilient. Banking stocks bouncing back is only a matter of time," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. (ANI)Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationBRUSSELS, Belgium: Meta is holding firm on its controversial pay-or-consent model, a move that could lead to fresh antitrust charges...
LONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
The family of Sayfollah Saif Musallet, a 20-year-old American citizen who was beaten to death by Israeli settlers in the occupied West...
CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
(Photo credit: Brian Fluharty-Imagn Images) Ceddanne Rafaela hit a two-run home run to help the Boston Red Sox stretch their winning...
(Photo credit: D. Ross Cameron-Imagn Images) The Los Angeles Dodgers strung together two-out bloop singles by Freddie Freeman and...
(Photo credit: Benny Sieu-Imagn Images) Jackson Chourio had a three-run homer and Brice Turang added a solo shot to back a dominant...
(Photo credit: Benny Sieu-Imagn Images) Milwaukee Brewers right fielder Sal Frelick left Sunday's game against the Washington Nationals...
(Photo credit: David Frerker-Imagn Images) Say this much for San Diego Padres center fielder Jackson Merrill. When he snaps a slump,...