Market Update: Indian stock markets rise

10 May 2024 , 01:36 PM

Indian benchmark indices trade higher on Friday, retracing from intraday highs, following global market gains amid optimism regarding expectation of US Federal Reserve rate cuts.

At the time of writing, Sensex rises by 94.36 points, or 0.13%, to 72,498, while Nifty advances by 53 points, or 0.24%, to 22,009. Among the traded shares, 1,923 witness gains, 1,227 decline, and 84 remain unchanged.

Except for IT and Realty sectors, which decline by 0.32% and 0.72%, respectively, all other sectoral indices exhibit gains. Metal, Pharma, and FMCG sectors lead the gains. The broader market also trades positively, with the BSE SmallCap index rising by 0.38% and the BSE MidCap index increasing by 0.49%.

Only one stock in the Nifty 50 is in the red. TCS, Infosys, Tech Mahindra, LTI, Mindtree, and Kotak Mahindra Bank witness declines, while BPCL, Hero MotoCorp, NTPC, Adani Ports & SEZ, and HDFC Life are among the top gainers.

Among the BSE Sensex constituents, ten stocks trade in the red. TCS, Infosys, Tech Mahindra, Kotak Mahindra Bank, and Mahindra & Mahindra observe declines, whereas NTPC, Asian Paints, JSW Steel, Power Grid Corp, and Bharti Airtel lead in gains.

Provisional data from the NSE indicates that Foreign Institutional Investors (FIIs) sell net shares worth ₹6,994.86 Crore, while Domestic Institutional Investors (DIIs) buy shares worth ₹5,642.53 Crore on May 9.

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