Stock Market opens in the green, Nifty near 22,250, Sensex up 290 points
Mumbai/IBNS: Indian benchmark indices opened on a positive note on Thursday (Apr 18) with Nifty near 22,250, shaking off the fading hopes of an early US rate cuts and geopolitical tensions in the Middle East due to the last week's Iranian attack on Israel that continued to weigh on investor sentiment.
The Nifty was up 94.05 points (0.42 percent) at 22,241.95, and the Sensex was up 262.25 points (0.36 percent) at 73,205.93 at the opening bell.
About 1843 shares advanced, 432 shares declined and 118 shares remained unchanged, according to reports.
Major gainers on the Nifty include Power Grid Corp, BPCL, HDFC Life, Tata Steel and Adani Ports, while Nestle, HCL Technologies, Axis Bank, Apollo Hospitals and Sun Pharma were among the losers.
The Indian stock markets -- the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) -- were closed on Wednesday (Apr 17) on account of Ram Navami, which is celebrated as the birth anniversary of Lord Ram.
On Tuesday (Apr 16) the Sensex and the Nifty closed lower for a third straight session, tracking weakness in global markets amid a worsening situation in West Asia, while rising US treasury bond yields, which shot to a five-month high, also weighed on investors' risk appetite.
At close, the Sensex dropped 456.10 points (0.62 percent) at 72,943.68, while the Nifty 50 declined 124.60 points (0.56 percent) at 22,147.90.
Six top stocks to buy or sell today as recommended by market experts:
1. Escorts: Buy at ₹3063, target ₹3260, stop loss ₹2950.
2. Gujarat Gas: Buy at ₹573, target ₹620, stop loss ₹246.
3. Mangalam Cement: Buy at ₹854 to ₹856, target ₹900, stop loss ₹829.
4. Cigniti Technologies: Buy at ₹1273 to ₹1275, target ₹1333, stop loss ₹1240.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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