Stock Market Today LIVE: Sensex, Nifty give up days gains amid volatility; Adani Trans in lower circuit as most group stocks bleed ,Stocks News, Business News
The Indian stock market today opened on a positive note with the benchmark indices Sensex and Nifty trading marginally higher. However, the market has since given up its gains amid high volatility.
At 10:30 am, the S&P BSE Sensex was trading at 38,738.51, down by 0.84% or 328.31 points while the Nifty 50 was trading at 11,346.30, down by 0.77% or 88.20 points.
Adani Transmissions, a part of the Adani Group, was the top loser on the Nifty 50, plummeting more than 8%. Other stocks from the group such as Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone were also trading in the red.
Among the sectoral indices, the Nifty Auto index was down by 1.7% while the Nifty Realty index was down by 1.4%.
In the broader market, the S&P BSE MidCap index was trading 0.6% lower while the S&P BSE SmallCap index was trading 0.5% lower.
The rupee opened on a strong note at 74.12 against the US dollar today.
The Indian stock market is likely to remain volatile today amid weak global cues. The Asian markets have opened in the red today as investors remain cautious ahead of the US Federal Reserve’s policy meeting.
Meanwhile, the Reserve Bank of India (RBI) has kept the repo rate unchanged at 4%. This is the sixth consecutive time that the central bank has kept the repo rate unchanged. The decision was in line with market expectations.
Investors will also be tracking the stock-specific action today as the earnings season is set to kick off. IT major Infosys will be among the first companies to report its quarterly earnings today.
Overall, investors are advised to remain cautious and stay light on positions as the market remains volatile.