Categories: Top News

Stock Market Starts Steady, Shifts to Negative Terrain as Sensex-Nifty Decline; Asian Markets Surge Despite Indian Indices’ Downturn

The trading week kicked off with a mixed start in the stock market on Monday, initially opening with a neutral stance in positive territory but eventually slipping into negative territory. This shift reflected a cautious sentiment among investors amidst global market movements.

At the opening bell, the benchmark indices, Sensex and Nifty, saw a slight dip in their values, with the Sensex marginally down by 35.75 points at 73,774.81, and the Nifty experiencing a slight decline of 2.20 points, reaching 22,376.20. However, as the session progressed, the indices quickly reversed course, witnessing more pronounced losses.

Market breadth among Nifty companies remained subdued, with 22 advances and 28 declines recorded. Notable gainers included Dr. Reddy, NTPC, Power Grid, Bajaj Auto, and ONGC, while JSW Steel, Tata Steel, Eicher Motors, Tata Consumer Products, and M&M emerged as the top losers.

Varun Aggarwal, founder and managing director of Profit Idea, remarked, “Despite gains observed in Asian markets, Indian indices struggled to maintain momentum, influenced by global cues. The Nikkei 225, Japan’s benchmark index, surged to a new record high above the 40,000 mark, signaling optimism about the country’s economic recovery from deflation.”

Conversely, Indian stocks faced downward pressure amid cautious investor sentiment. In the United States, major indices rallied on Friday, with the S&P 500 and Nasdaq reaching all-time highs, driven by gains in the tech sector and falling Treasury yields. While the S&P 500 rose by 0.95 percent for the week and the Nasdaq by 1.74 percent, the Dow experienced a slight decline of 0.11 percent.

Meanwhile, Asian stocks advanced on Monday, following the positive trajectory set by US shares. Investor sentiment remained buoyant, particularly in Japan, as the Nikkei-225 breached the significant 40,000 level for the first time in its history. In China, investors awaited potential stimulus measures as the National People’s Congress convened.

The global market outlook remains closely tied to upcoming events, including Federal Reserve Chair Jerome Powell’s testimony this week and the release of the US February payrolls report, which could influence policy decisions. Additionally, in Europe, the European Central Bank is expected to maintain rates, while the Bank of Canada may consider rate cuts in the coming months, further shaping market dynamics worldwide.

Muskan Menghani

Recent Posts

Cal HC Upholds Single-Bench Order Order Allowing Doctor’s Protest In Esplanade

The Calcutta High Court's division bench upheld an earlier order permitting a demonstration by a…

7 mins ago

Tania Sachdev Calls For Greater Recognition Of Delhi’s Chess Players

Indian chess has been in the spotlight recently, with Gukesh D's victory in the FIDE…

8 mins ago

VIDEO: Singer Monali Thakur WALKS OUT Of Varanasi Concert| HERE’S WHY

Just 45 minutes into the show, Monali Thakur abruptly walked out, which left many people…

11 mins ago

“Sex With Dead Body Horrendous But Not Rape”: Chhattisgarh HC’s Necrophilia Ruling

The Chhattisgarh High Court has upheld the acquittal of Neelu Nagesh, accused of committing necrophilia…

22 mins ago

Mohamed Salah’s Record-Breaking Performance Keeps Liverpool On Top of Premier League Table

Salah became the first player in Premier League history to reach double figures for both…

28 mins ago

‘We Couldn’t Afford To Think About Danger’ 20-Year-Old Rakesh Saini Saves 30 Lives In Jaipur Farmhouse Fire

In a harrowing incident near the Jaipur-Ajmer National Highway, a fire engulfed a temporary shelter…

39 mins ago