Sensex opens at all-time high but fails to move up, remains flat

Indian equity indices opened at an all-time high on Monday. In early commerce, Sensex and Nifty made a model new all-time high of 77,079 and 23,411 respectively. At 9:45 am, Sensex was at 76,703, up 9 components and Nifty was at 23,293, up 4 components.

Broader markets are in an uptrend. The Nifty midcap 100 was up 230 components or 44 per cent, at 53,425 and the Nifty smallcap was up 133 components or 0.78 per cent, at 17,349. India volatility index (India VIX) is at 17.09, up virtually one per cent.

Among the sector indices, PSU Bank, fin service, realty, vitality, and pharma are predominant gainers. Pvt monetary establishment, metal and IT are predominant laggards. In Sensex pack, Powergrid, Ultratech Cement, Axis Bank, NTPC, Nestle, Reliance, SBI, Bharti Airtel, and Tata Motors are predominant gainers and Tech Mahindra, Wipro, Infosys, HCL Tech and Titan are prime losers.

“It is significant to understand that the important thing driving stress on this bull market is the Indian retail merchants along with HNIs. Big selling by FIIs is getting eclipsed by the aggressive purchasing for of DIIs and retail merchants,” specialists said.

They added that the reality that retail merchants bought equity for Rs 21,179 crores on June 4th, the day Nifty tanked 5.9 per cent, signifies the purchasing for power and optimism of the retail merchants.

Mixed shopping for and promoting goes down in Asian markets. Tokyo and Shanghai are inside the inexperienced, whereas the markets of Seoul, Bangkok, Hong Kong, and Jakarta are shopping for and promoting inside the pink. American markets closed inside the pink on Friday. Crude oil benchmark Brent crude is at $79 and Brent crude at $75.

(With inputs from IANS)