Download
Stock Market Live: At the time of noon, both Sensex and Nifty 50 are trading with marginal gains. Sensex inched 118.42 points, or 0.13 per cent higher at 73,971.01 while Nifty inched 20.15 points, or 0.10 per cent higher at 22,513.45.
Earlier today, Indian frontline indices started the last trading session of this week on a positive note. The Nifty 50 index opened above 22,500 while 30-share Sensex hovered around 74,200. On Thursday, Nifty 50 had ended the session 622 points aways from fresh highs. After opening in green, GIFT Nifty, which is trading at a discount of 35 points at 12 pm.
Among sectoral indices, Auto, Financial Service, FMCG, Energy, Metal, Realty, Service sector remained in green with Metal taking a lead with gain of near 1 per cent. On the other hand, IT, PSU Bank, Pharma, PSE moved in a downward trajectory.
Broader markets also participated in the rally with Nifty Midcap 100 inching 276.40 points, or 0.56 per cent higher at 51,719.25 while Nifty Smallcap 100 inched 78.80 points, or 0.47 per cent higher at 16,698.45.
The India VIX, or ‘Fear Index’, that indicates investors anticipation of near time volatility, remains at elevated levels of 23. In early trading today, the VIX moved 5.38 per cent in a downward direction at 22.87. Volatility is often described as the ‘rate and magnitude of changes in prices’. As per analysts, the current volatility is a direct result of anxiousness prevailing among market participants as India heads for election results. As volatility subsides, the Volatility Index declines.
In the currency market, the Indian rupee appreciated five paise to open at 83.24 against the US dollar on the back of strong equity market and falling crude oil prices. In the previous session, the Indian currency had closed at 83.29 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.13 per cent higher at 104.86.
Amid mixed trends observed in Indian markets, Asian stocks inched higher as investors await inflation readings from Europe and the US that will likely dictate the path of interest rates. A downward revision to consumer spending meant the US economy grew more slowly than expected in the first quarter.