Mumbai (Maharashtra) [India], November 29 (ANI): Indian stock markets gains after it opened flat on Friday, a sharp correction of more than 1 per cent was witnessed on Thursday.
The Nifty index regained 24000 while Sensex also gained more than 300 points after the Nifty 50 index opened flat at 23,927.15 with a gain of 13 points or 0.05 per cent, while the BSE Sensex declined marginally by 10 points or 0.01 per cent to open flat at 79,032.99.
Experts noted that geopolitical tensions and uncertainty over the Fed rate cut are continuously affecting the markets. The global trade dynamics, which will shift under Trump 2.0, are also influencing markets globally.
“The index dropped by 1.5 per cent on the previous session, influenced by concerns over geopolitical developments and uncertainty regarding future interest rate cuts. Additionally, ongoing changes in trade dynamics signal the potential for a trade war, which could negatively impact developing economies like India. Geopolitical tensions remain a primary risk factor for market direction. The daily chart indicates that if the Nifty falls below 23,870, it may continue its decline toward 23,500” said Varun Aggarwal, MD, Profit Idea.
In the sectoral indices, except for Nifty IT and Nifty Realty, all other indices opened with gains, with Nifty Media showing a sharp recovery of 1.58 per cent.
In the Nifty 50 top shares list, HDFCLife, SBILife, Dr Reddy, Adani Enterprises, and Sun Pharma opened as top gainers, while Power Grid opened as the top loser in Nifty 50.
The shares of Adani group companies continue their recovery, with Adani Green shares surging more than 7 per cent at the time of filing this report.
In other Asian markets, a mixed performance was witnessed on Friday. Japan’s Nikkei 225 index faced selling pressure with a decline of 0.41 per cent at the time of filing this report, while markets in South Korea and Indonesia witnessed a sharp correction of more than 1 per cent. Hong Kong’s Hang Seng and China’s Shanghai Composite Index gained marginally.
Domestic stock markets faced selling pressure as both indices declined more than 1 per cent on Thursday due to declines in tech heavyweight stocks, a lack of major global cues, and weak performance in Asian markets. (ANI)
