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condition of stock market

Mumbai: The Indian stock market had a flat start on Wednesday. At 9:21 am, Sensex was down by 6 points at 74,553 and Nifty was at 23,390 with a slight gain of 10 points. A mixed trend was seen in the market in early trade. Metal and defense stocks gained momentum, while Nifty Metal and Nifty India Defense became the top gainers. Nifty FFCG, Nifty Oil & Gas, Nifty Pharma, Nifty Commodities, Nifty PSE, Nifty Healthcare and Nifty Energy were also among the gainers. On the other hand, Nifty IT, Nifty Services and Nifty PSU Bank were losers.

Asian Paints, Adani Ports, Tata Steel, BEL, Kotak Mahindra, L&T, ITC, Sun Pharma, Trent, Bajaj Finserv, Maruti Suzuki, TCS, HCL Tech, Bharti Airtel and Tech Mahindra were the top gainers on the Sensex. Whereas, Power Grid, Bajaj Finance, Eternal, NTPC, Infosys, SBI, Axis Bank, ICICI Bank and M&M were among the losers.

Midcap and smallcap stocks also witnessed a rise. The Nifty Midcap 100 index gained 228 points or 0.38 per cent to 59,932 and the Nifty Smallcap 100 index gained 76 points or 0.43 per cent to 18,015. There was also a bullish trend in most of the Asian markets. Tokyo, Hong Kong, Seoul, Bangkok and Shanghai traded in the green, while Jakarta remained in the red. US stock markets closed mixed on Tuesday, with the Dow Jones rising 0.11 per cent and the Nasdaq falling 0.71 per cent.

Foreign institutional investors (FIIs) remain net sellers. They sold Rs 1,959.39 crore in equities on Tuesday. At the same time, domestic institutional investors (DIIs) invested Rs 7,990.32 crore. Weakness is being seen in crude oil. Till the time of writing the news, WTI crude on Comex was down by 1.16 percent at $ 100.99 per barrel and Brent crude was down by 1.15 percent at $ 106.53 per barrel.