Sensex, Nifty Poised for Positive Start on Monday

23 Oct 2023 , 08:53 AM

On October 23, it is anticipated that both the Sensex and Nifty will initiate trading on a positive note, as per trends in the GIFT Nifty, which suggests an opening gain of 94.50 points for the broader index.

The GIFT Nifty, as per NSE IX, traded 83 points higher, marking a gain of 0.43 percent, reaching 19,509.5. This suggests that Dalal Street is poised for a positive start on the upcoming Monday.

In contrast, the domestic stock market experienced a third consecutive day of weakness on October 20, with benchmark indices sliding due to the negative global market trends. Additionally, lower-than-expected Q2 earnings from certain companies contributed to the subdued sentiment on Dalal Street.

The Nifty 50 index witnessed a decline of 0.42 percent, translating to a loss of 82.05 points, closing at 19,542.65. Similarly, the BSE flagship Sensex, consisting of 30 shares, recorded a decline of 0.35 percent, or 231.62 points, finishing at 65,397.62.

On the Nifty, notable decliners for Friday included ITC, Divis Labs, HUL, BPCL, and Tata Steel. In contrast, notable gainers in the market encompassed Kotak Mahindra Bank, IndusInd Bank, TCS, SBI Life Insurance, and Nestle India.