After the recessionary environment that has been going on for the last few days, there has been a great recovery in the Indian stock market on 3rd September. The markets opened with gains on the back of strong global cues and buying in banking and realty stocks. As soon as trading started, Nifty once again crossed the psychological level of 24,000, due to which the faces of investors lit up.
Both the major indices Sensex and Nifty are trading in the green. Bombay Stock Exchange’s Sensex gained 300 points and reached near 76,869. At the same time, Nifty 50 of National Stock Exchange was also seen rising by 105.50 points and trading around 24,037. The overall sentiment of the market remains quite positive, where about 2,067 shares were up, while 789 shares were in the decline and 155 shares were trading unchanged.
Strong rise in Adani Ports and banking shares
Today’s rise was led by Adani Ports, whose stock remained the top gainer with a gain of +1.51%. Apart from this, banking and power sector giants also supported the market.
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- Top gainers: Apart from Adani Ports, good buying is being seen in ICICI Bank (+1.37%), Axis Bank (+1.08%), State Bank of India (SBIN +1.08%), Power Grid (+1.05%), HDFC Life (+0.91%), Adani Enterprises (+0.84%) and HDFC Bank (+0.70%).
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- Top Losers: On the other hand, there was some pressure in IT and auto stocks. Shares of IndiGo (-1.02%), Tech Mahindra (-0.94%), HCL Tech (-0.86%), Eicher Motors (-0.83%), Nestle India (-0.64%), TCS (-0.63%), Infosys (-0.59%), Bajaj Auto and Cipla are trading in the red.
Situation of sectoral index
Sector wise, today banking and realty stocks have performed brilliantly. Nifty PSU Bank gained +0.93%, Nifty Realty gained +0.91% and Nifty Bank gained +0.72%. Apart from this, energy and infra sectors are also in the green. However, there is a selling phase in the IT sector. Nifty IT index is trading down by -0.90%. Apart from this, slight softening is being seen in FMCG (-0.46%) and Pharma (-0.07%).
