ANI
20 Nov 2023, 14:27 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 InformationBOLOGNA, Italy: Due to fears of a collapse, local officials have secured the area around one of two 12th century ...
MUNICH, Germany: The heavy snow and icy conditions that hit Bavaria, Germany, canceled flights and long-distance trains out of Munich, ...
RALEIGH, North Carolina: After a decade of discussions and hesitations, North Carolina has expanded Medicaid coverage by offering government-funded health ...
The U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...
WASHINGTON D.C.: This week, the Biden administration announced a proposal by the Environmental Protection Agency (EPA) that would require U.S. ...
TOKYO, Japan: Japan's space agency recently fell victim to a cyberattack, but reassuringly, the compromised information did not pertain to ...
ARLINGTON, Virginia: This week, the conservative U.S. political network Americans for Prosperity Action (AFP Action), led by billionaire Charles Koch, ...
(Photo credit: Michael McLoone-USA TODAY Sports) Catcher Victor Caratini agreed to a two-year, $12 million contract with the Houston Astros, ...
(Photo credit: Jeff Hanisch-USA TODAY Sports) Mason Crosby is set to join the Los Angeles Rams after 16 seasons with ...
(Photo credit: Brad Penner-USA TODAY Sports) Cam Spencer scored 23 points and No. 5 UConn used some hot shooting to ...
(Photo credit: Gary A. Vasquez-USA TODAY Sports) LeBron James scored 31 points with 11 assists, Anthony Davis scored 27 points ...
(Photo credit: Michael McLoone-USA TODAY Sports) Giannis Antetokounmpo collected 35 points, 10 assists and eight rebounds to fuel the host ...