ANI
20 Nov 2023, 09:57 GMT+10
New Delhi [India], November 20 (ANI): Indian stock indices started fresh week largely on a steady note, with weak cues from global benchmark US markets coupled with uncertainty over monetary policy rates in the United States.
At the opening bell, Sensex and Nifty indices in India were less than 0.1 per cent lower from their Friday closing. Among the Nifty 50 stocks, Coal India, Divis Labs, Apollo Hospitals, HCL Technologies, and NTPC were the top five gainers, while Axis Bank, Nestle India, Mahindra and Mahindra, Kotak Mahindra Bank, and Asian Paints the losers.
Among the sectoral indices, Nifty IT, Nifty realty, Nifty pharma, and Nifty PSU bank were the top gainers, while Nifty private bank was the top loser.
"Our view is that the overall market situation is positive, but due to a temporary overbought situation, we may see some range-bound action," said Shrikant Chouhan - Head Equity Research, Kotak Securities.
Till last week, markets extended their bullish tone for the third successive week and gained over a per cent.
"Global cues are largely dictating the trend and we expect this trend to continue in the coming week as well. Among all the major indices, the US markets are showing noticeable strength and have recovered considerably in the last three weeks," said Ajit Mishra, SVP - Technical Research, Religare Broking.
Going ahead, the US Federal Open Market Committee minutes from its last meeting, due on Tuesday, will be eyed by investors for fresh market direction.
"There is momentum in large-cap IT stocks. The expectation that the US will not tip into a sharp recession has improved the prospects for IT. Autos, telecom, capital goods and construction-related segments are likely to remain resilient. Banking stocks bouncing back is only a matter of time," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. (ANI)Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More Information(Photo credit: Rick Scuteri-Imagn Images) Michael Lorenzen pitched seven scoreless innings and won for the first time in nearly a...
(Photo credit: Andrew Dieb-Imagn Images) Dallas Cowboys All-Pro kick returner KaVontae Turpin is facing misdemeanor charges of possession...
(Photo credit: Ron Chenoy-Imagn Images) Mickey Moniak finished a double shy of the cycle, Michael Toglia also went deep, and the...
(Photo credit: Bruce Kluckhohn-Imagn Images) Yandy Diaz's go-ahead double in a three-run 10th inning enabled the struggling Tampa...
(Photo credit: Rafael Suanes-Imagn Images) Trevor Story and Ceddanne Rafaela each homered to help the visiting Boston Red Sox complete...
(Photo credit: Rafael Suanes-Imagn Images) Trevor Story and Ceddanne Rafaela each homered to help the visiting Boston Red Sox complete...
(Photo credit: Andrew Dieb-Imagn Images) Dallas Cowboys All-Pro kick returner KaVontae Turpin is facing misdemeanor charges of possession...
(Photo credit: Paul Witwer/Standard-Times / USA TODAY NETWORK via Imagn Images) The Dallas Cowboys are donating $500,000 to the Salvation...
(Photo credit: Jasen Vinlove-Imagn Images) Veteran wide receiver Chase Claypool, who hasn't played in the NFL since 2023, is confident...
(Photo credit: Anne-Marie Sorvin-Imagn Images) Since COVID-19 canceled the 2020 CFL season, the Edmonton Elks have tried multiple...
(Photo credit: Kirby Lee-Imagn Images) Sacramento State head coach Brennan Marion reached into Southeastern Conference territory...
(Photo credit: Paul Witwer/Standard-Times / USA TODAY NETWORK via Imagn Images) The Houston Texans announced a $500,000 commitment...