Vibrant retail investors buy with every dip. According to analysts, this “buy with dip” strategy is rewarding individual investors and can therefore be expected to continue until there are sharp corrections and negative signals in the market.
How about blue chips?
After opening on the green, the Benchmark Index remained in the lead. At 9:31 am, the BSE flagship Sensex rose 190 points (0.33%) to 58,042. Nifty in the NSE benchmark rose 38 points (0.31%) to 17,287.
In the 50-share pack Nifty, Motors was the largest increase of 3.10%. , ONGC ,, Hero MotoCorps, Reliance Industries, etc. were the winners. Insurance fell 2.31 percent and was the top loser in the pack. Cipla, HCL Tech, Shree Cement, HUL, Hindalco, Tech Mahindra and UltraTech Cements were one of those traded in the red.
Factors that move the market
Yield, dollar flat: Treasuries were cautious prior to data release, with benchmark 10-year Treasuries yielding 1.2919% in Asian time on Friday, while Treasuries closed on Thursday at 1.294%. The dollar remained fixed at a monthly low against a basket of currencies, as the euro did a fair amount of work.
US Job Data: There are some caveats before Friday’s upcoming job listings. The Ministry of Labor will release the August Non-Agricultural Employment Number Report at 1230 GMT. A solid job recovery is an important criterion for the US central bank to begin pairing stimuli in the pandemic era.
The broader market index traded higher, ahead of its headline peers. Nifty Smallcap increased by 0.56% and Nifty Midcap increased by 0.62%. Nifty500, the widest index in NSE, rose 0.43%.
Trident, Vakrangee, IRB Infra Developers, Exide Industries, Prestige Estates, L & T Tech Services made a profit from this area, and Adani Total Gas, JSW Energy, Crompton Greaves, CAMS, Rites and Affle India were under selling pressure. ..
MSCI’s widest index of non-Japanese Asia-Pacific equities was largely flat in early trading in Asia, as benchmarks returned to their position in mid-July before Chinese regulatory crackdowns fell stocks. It recorded a rise in eight of the last nine sessions.
Japan’s Nikkei Stock Average rose 0.38% and MSCI’s National World Index rose after the previous session at the fifth consecutive closing price.
Australia rose 0.3%, South Korea rose 0.61%, China’s best-cap stocks fell 0.27%, and Hong Kong as traders tried to balance weak economic data from China with potential future stimuli. Was down 0.6%.