Tag: market

  • Indian stock market opens in red; selling seen in PSU bank, pharma sectors

    Sensex trades lower amid weak global cues

    The Indian stock market opened in red for the second consecutive day on Wednesday as selling was seen in PSU bank and pharma sectors in early trade.

    Sensex was trading at 80,057.15 after falling 311.88 points or 0.39 per cent. At the same time. Nifty was trading at 24,372.75 after falling 94.10 points or 0.38 per cent. The market trend remained positive.

    On the National Stock Exchange (NSE), 1,666 stocks were trading in green, while 586 stocks were trading in red. The Nifty Bank was at 52,890.30 after slipping 430.40 points or 0.82 per cent. The Nifty Midcap 100 index was trading at 56,460.75 after climbing 209.45 points or 0.37 per cent.

    The Nifty Small cap 100 index was at 18,355.35 after climbing 156.40 points or 0.86 per cent. Maruti, IndusInd Bank, Tata Motors, TCS and ITC were the top gainers in the Sensex pack.

    At the same time, Sun Pharma, Bajaj Finserv, Titan, HCL Tech, PowerGrid and Asian Paints were the top losers. Maruti, BEL, IndusInd Bank, Tata Motors and Bajaj Auto were the top gainers in the Nifty pack. Cipla, Dr Reddy’s, Sun Pharma, Shriram Finance, Bajaj Finserv and Titan were the top losers.

    In Asian markets, except the Tokyo market, Bangkok, Hong Kong, Shanghai, Jakarta and Seoul markets were trading in the red. US stock markets had closed in the red on the previous trading day. According to market experts, in the near term, the market will be influenced by two factors — one positive and the other negative.

    Sensex snaps five-day losing streak, Nifty closes above 24,300

    The positive is the sharp decline in FII selling to just Rs 548 crore on Tuesday. This is an indication that the FII tactical trade of ‘Sell India, Buy China’ is coming to an end. With more DII and retail money coming to the market and FII selling tapering off, the market may get a near-term boost, aided by the festive mood.

    But the uptrend is unlikely to sustain since the Q2 earnings numbers indicate softness in earnings for FY25, said experts. Foreign institutional investors (FIIs) sold equities worth Rs 548 crore on Tuesday, while domestic institutional investors bought equities worth Rs 730 crore on the same day. There was a boom in the market on Tuesday.

    At the end of trading, the market rose on the strength of bank shares. Sensex closed at 80,369.03, up 363.99 points or 0.45 per cent. Nifty was at 24,466.85 after rising 127.70 points or 0.52 per cent. (With inputs from IANS)

  • Green Diwali at stock market: Sensex jumps 848 pts, all sectors in green

    Sensex closes at all-time high, Nifty above 26,000 for first time

    Indian equity indices traded in the green on Monday in mid-session as buying was seen in heavyweights like ICICI Bank, M&M, IndusInd Bank, JSW Steel and Wipro, lifting the sentiment of the market after a five-day losing streak.

    At 1:02 p.m., Sensex was up 872 points or 1.10 per cent at 80,242, and Nifty was up 224 points or 0.93 per cent at 24,405.

    The market rally was driven by banking stock. Nifty Bank was up 606 points or 1.22 per cent at 51,405.

    Nifty midcap 100 index was up 503 points or 0.91 per cent at 55,777, and Nifty smallcap 100 index was up 228 points or 1.28 per cent at 18,075.

    All sectors were trading in the green. The major gainers were auto, PSU Bank, fin service, pharma, FMCG, metal, realty, energy, and commodities.

    In the Sensex, ICICI Bank, M&M, IndusInd Bank, JSW Steel, Wipro, Nestle, Tata Motors, Tata Steel, HUL, Asian Paints, SBI, TCS, Sun Pharma, HCL Tech and Power Grid were major gainers. Kotak Mahindra Bank, Axis Bank, Tech Mahindra and HDFC Bank were major losers.

    Market experts said that the trend of flight to quality is likely to be sustained given the good numbers from banking majors like HDFC Bank and ICICI Bank where valuations continue to be fair. Investors can profit from these polarised valuations.

    Market

    Market experts said that the trend of flight to quality is likely to be sustainedIANS

    “The global market structure may turn favourable after the subdued Israeli strikes against Iran avoiding the Iranian oil fields which have resulted in a sharp drop in crude prices. The imminent US presidential elections and the uncertainty associated with that will continue to weigh on markets,” they added.

    The foreign institutional investors (FIIs) sold equities worth Rs 3,036 crore on October 25, while domestic institutional investors bought equities worth Rs 4159 crore on the same day.

    (With inputs from IANS)

  • Indian stock market in red, Sensex down 549 points amid weak earnings

    sensex

    IANS

    The Indian stock market opened flat on Friday as buying was seen in the auto, IT, financial services and PSU Bank sectors but soon slipped into red.

    The Sensex opened at 80,139.30 after gaining 74.14 points or 0.09 per cent but by 11:30 am, it slipped into red reaching 79,397.85 points or losing 667.30 points (0.83%). Similarly, Nifty was trading at 24,137.20 or 262.20  points down (1.07%) at 11:30 am.

    ITC, Axis Bank, Asian Paints, HCL Tech, Sun Pharma, Nestle India and ICICI Bank were the top gainers in the Sensex pack. IndusInd Bank, NTPC, Mahindra & Mahindra, JSW Steel, Tata Steel and L&T were the top losers.

    ITC, Axis Bank, HCL Tech, Britannia, Asian Paints, Nestle India and Sun Pharma were the top gainers in the Nifty pack. IndusInd Bank, NTPC, Coal India, Shriram Finance and Mahindra & Mahindra were the top losers. The market trend remained mixed.

    On the National Stock Exchange (NSE), 890 stocks were trading in the green, while 1084 stocks were trading in the red. The Nifty Bank was at 51,440.40 after slipping 90.75 points or 0.18 per cent. The Nifty Midcap 100 index was trading at 56, 216.90 after slipping 132.85 points or 0.24 per cent.

    The Nifty Small cap 100 index was at 18,292.35 after rising 43.20 points or 0.24 per cent. In Asian markets, except Tokyo, the stock markets of Bangkok, Shanghai, Hong Kong, Jakarta and Seoul were trading in the green.

    Sensex trades lower amid weak global cues

    The US stock market closed in the red on the last trading day. According to market experts, with the massive, sustained and unprecedented selling by the FIIs, which has touched Rs 98,085 crore this month up to October 24, the “buy on dips strategy is not working”.

    They said the consensus downward revision in FY25 earnings estimate and the weak Q2 numbers have soured the sentiments to a slightly bearish mode. “The positive factor is the sustained flows into mutual funds that is helping DIIs absorb the massive FII selling,” according to experts.

    Foreign institutional investors (FIIs) sold equities worth Rs 5,062 crore on October 24, while domestic institutional investors bought equities worth Rs 3,620 crore on the same day.

    (With inputs from IANS)

  • Growth Drivers and Revenue Insights in Digital Farming Market for 2024-2033

    LONDON, GREATER LONDON, UNITED KINGDOM, 25th October 2024 — The digital farming market has experienced robust growth in recent years, expanding from $14.06 billion in 2023 to $16.09 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to precision agriculture adoption, advancements in sensor technologies, big data analytics in agriculture, government initiatives and subsidies, improved connectivity in rural areas.

    What Is The Estimated Market Size Of The Global Digital Farming Market And Its Annual Growth Rate?

    The digital farming global market is projected to continue its strong growth, reaching $26.44 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to ai and machine learning integration, blockchain for supply chain transparency, 5g technology implementation, increasing demand for food, digital twin technology. Major trends in the forecast period include 5g technology implementation, robotic farming systems, digital twin technology, climate-smart agriculture solutions, collaboration between agtech companies.

    Growth Driver Of The Digital Farming Market

    The rising demand for food is expected to propel the growth of the digital farming market going forward. Food refers to a substance that is mostly made up of protein, carbohydrates, fat, and other nutrients and is used by an organism’s body to support development, vital functions, and the production of energy. Digital farming, or agriculture, is used by farmers to increase agricultural productivity by utilizing technical solutions for dependable farm management and monitoring. With the growing demand for food, digital farming methods are increasingly being adopted to sustain this demand.

    Who Are The Leading Competitors In The Digital Farming Market Share?

    Key players in the market include Armacell International Holding, BASF SE, Woodbridge Company Ltd., Dow Inc., Sekisui Chemical Co. Ltd., Recticel NV, UFP Technologies Inc., INOAC Corporation, Kaneka Corporation, Saudi Basic Industries Corporation, Sealed Air Corporation, Zotefoams plc, Lanxess AG, Foampartner Group, MH Polymers Private Limited, Covestro AG, Furukawa Electric Co. Ltd., Huntsman Corporation, Trelleborg AB, Rogers Corporation, Wanhua Chemical Group Co. Ltd., Synthos S.A., Versalis S.p.A., Total S.A., Nova Chemicals Corporation, Tucson Container Corporation, Polyfoam Corporation, Foamex International Inc., Foam Products Corporation.

    What Are The Dominant Trends In Digital Farming Market Growth?
    Technological advancements are a key trend gaining popularity in the digital farming market. Major companies operating in the market are focused on innovating new technologies to sustain their position in the market.

    How Is The Global Digital Farming Market Segmented?

    1) By Component: Hardware, Software, Other Components
    2) By Technology: AI or ML or NLP, IoT, Blockchain, Big Data and Analytics
    3) By Infrastructure: Sensing and Monitoring, Communication Technology, Cloud and Data Processing, Telematics or Positioning, End-Use Components
    4) By Application: Yield Monitoring, Field Mapping, Crop Monitoring, Livestock Monitoring, Real Time Safety Testing, Soil Monitoring, Precision Farming

    Geographical Insights: North America Leading The Digital Farming Market
    North America was the largest region in the digital farming market share in 2023. The regions covered in the digital farming global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

    Digital Farming Market Definition
    Digital farming refers to the consistent use of smart farming and precision farming techniques, internal and external farm networking, and web-based data platforms used in conjunction with big data analysis. The digital farming is used to integrate financial and field-level records for the whole management of farm activity.

    Digital Farming Global Market Report 2024 from The Business Research Company covers the following information:

    • Market size data for the forecast period: Historical and Future
    •Macroeconomic factors affecting the market in the short and long run
    •Analysis of the macro and micro economic factors that have affected the market in the past five years
    • Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
    • Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

    An overview of the global digital farming market report covering trends, opportunities, strategies, and more

    The Digital Farming Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on digital farming market size, digital farming market drivers and trends, digital farming market major players, digital farming competitors’ revenues, digital farming market positioning, and market growth across geographies. The digital farming global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

    What Does the Business Research Company Do?

    The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including a Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
    Our flagship product, the Global Market Model is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.


    Joseph Andrew

  • Indian stock market opens flat as FII outflow continues

    Market down

    IANS

    The Indian stock market opened flat on Thursday as buying was seen in auto, IT, PSU bank, financial services and pharma sectors during the early trade.

    The Sensex was trading at 80,194.93 after rising 112.95 points or 0.14 per cent and the Nifty was trading at 24,465.30 after rising 29.80 points or 0.12 per cent.

    The market trend remained mixed. On the National Stock Exchange (NSE), 679 stocks were trading in green, while 854 stocks were trading in red.

    The Nifty Bank was at 51,456.95 after rising 217.95 points or 0.43 per cent. The Nifty Midcap 100 index was trading at 56,454.40 after slipping 79.15 points or 0.14 per cent. At the same time, the Nifty Smallcap 100 index was at 18,317.95 after rising 31.75 points or 0.17 per cent.

    HDFC Bank, Sun Pharma, HCL Tech, Tata Motors, BEL and Adani Ports were the top gainers in the Sensex pack. At the same time, Hindalco, Hindustan Unilever Limited, SBI Life and Nestle India were the top losers.

    In the Asian market, the markets of Shanghai, Hong Kong and Jakarta were trading in the red, along with markets of Japan and Bangkok. The US stock markets closed in the red on the previous trading day.

    Around 10000 bananas kept under the charging bull of New York Wall Street

    Around 10000 bananas kept under the charging bull of New York Wall StreetTwitter

    Foreign institutional investors (FIIs) sold equities worth Rs 5,684 crore on October 23, while domestic institutional investors bought equities worth Rs 6,039 crore on the same day.

    According to market experts, the major headwind that the market is facing now is the massive and sustained FII selling which has touched Rs 93,088 crore through October 23, as per the NSDL data.

    “The fundamental trigger for the FII outflows is the elevated valuations in India and the relatively cheap and attractive valuations in markets like China and Hong Kong,” said market watchers.

    (With inputs from IANS)

  • Sensex ends lower, market trend remains positive

    Sensex ends lower, market trend remains positiveIANS

    The Indian stock market closed marginally low on Wednesday as selling was seen in auto, pharma, and metal sectors.

    The Sensex closed at 80,081.98 after falling 138.74 points or 0.17 per cent. At the same time, Nifty closed at 24,435.50 after falling 36.60 points or 0.15 per cent.

    The Nifty Midcap 100 index closed at 56,533.55 after rising 359.50 points or 0.64 per cent at the end of trading. The Nifty Smallcap 100 index closed at 18,286.20 after rising 225.20 points or 1.25 per cent. Nifty Bank closed at 51,239.00 after falling 18.15 points or 0.04 per cent.

    Selling was seen in the auto, pharma, metal, realty, energy, private bank, infra, and commodities sectors of Nifty. At the same time, buying was seen in IT, PSU bank, financial services, FMCG sector, and media.

    However, the market trend remained positive. On the Bombay Stock Exchange (BSE), 2,189 shares were trading in the green and 1,743 shares in the red, while 99 shares closed without any change.

    Bajaj Finance, Tech Mahindra, HCL Tech, HDFC Bank, Infosys, TCS, Bajaj Finserv, Kotak Mahindra Bank, and Maruti were the top gainers in the Sensex pack. At the same time, M&M, Sun Pharma, Powergrid, L&T, NTPC, Axis Bank, and Titan were the top losers.

    Bajaj Finance, Tech Mahindra, Bajaj Auto, Tata Consumer, TCS, HDFC Bank, HCL Tech, Coal India, and Infosys were the top gainers in the Nifty pack. Meanwhile, M&M, Sun Pharma, Eicher Motors, L&T, Shriram Finance, and NTPC were the top losers.

    Crude prices showed slight weaknessIANS

    Foreign institutional investors (FIIs) sold shares worth Rs 3,978 crore on Tuesday, while domestic institutional investors bought shares worth Rs 5,869 crore on the same day.

    The rupee remained flat at nearly 84.07 as the dollar strengthened.

    “Crude prices showed slight weakness, but foreign institutional investors (FIIs) continued to sell in Indian markets, maintaining pressure on the rupee,” said market experts.

    Nifty witnessed a volatile day of trade. It swung in both directions and ultimately closed in the negative down 37 points.

    Nifty pulled back however it was sold indicating inability to hold at higher levels. Daily as well as hourly momentum indicators have a negative crossover which is a sell signal, said experts.

     (With inputs from IANS)

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  • Indian share market opens flat, HDFC Bank and TCS among top gainers

    Market

    Indian share market opens flat, HDFC Bank and TCS among top gainersIANS

    The Indian stock market opened flat on Wednesday as buying was seen in the IT, financial services, FMCG and metal sectors in the early trade.

    Sensex opened at 80,151.67 with a fall of 69.05 points or 0.09 per cent while Nifty opened at 24,437.70 with a slide of 34.40 points or 0.14 per cent.

    The market trend remained mixed. On the National Stock Exchange (NSE), 1,126 stocks were trading in green, while 1,170 stocks were trading in red.

    Nifty Bank was at 51,313.05 after rising 56.50 points or 0.11 per cent. Nifty Midcap 100 index was trading at 50,087.10 level after slipping 86.95 points or 0.15 per cent. At the same time, the Nifty Smallcap 100 index was at 18,021.05 after slipping 39.95 points or 0.22 per cent.

    Bajaj Finance, Bajaj Finserv, HDFC Bank, Nestle India, Tech Mahindra and TCS were the top gainers in the Sensex pack. At the same time, NTPC, Power Grid, M&M, Tata Motors and the SBI were the top losers.

    market

    Market trend remained mixed.IANS

    In Asian markets, Shanghai and Hong Kong markets were trading in the green. At the same time, Jakarta, Japan and Bangkok markets were trading in the red. The US stock markets closed in the red on the last trading day.

    According to market experts, “The ongoing trend of large caps outperforming mid and smallcaps is likely to sustain, going forward. FII selling and the countervailing trend of domestic institutional investors (DII) buying is likely to continue.”

    In the coming days the market will be looking forward to the outcome of the US presidential elections and its possible impact on the market, they said.

    On Tuesday, the Indian markets saw some buying at the start of the session but failed to sustain the gains, extending selling pressure and closing on a negative note for the second consecutive day.

    Looking ahead, a “sell on rise” strategy is recommended, with the 24,650 – 24,850 range considered a potential selling zone, as long as the index stays below 25,000,” said experts.

     (With inputs from IANS)

     

  • Market Closure: Sensex and Nifty drop lower, Tata Consumer and Kotak Mahindra Bank top losers

    muhurat trading samvat 2073 bse nse trading india stock exchanges top picks diwali dhanteras 2016 celebrations sensex nifty

    Sensex and Nifty drop lower, Tata Consumer and Kotak Mahindra Bank top losersReuters file

    The Indian stock market closed in red on Monday as IT and PSU banks remained under pressure at the end of trading.

    The BSE Sensex closed at 81,151.27 after slipping 73.48 points or 0.09 per cent.

    At the same time, the NSE Nifty closed at 24,781.10 after falling 72.95 points or 0.29 per cent. The Nifty Midcap 100 index closed in red at 57,677.70 after slipping 971.45 points or 1.66 per cent. The  closed at 18,797.40 after falling 280.40 points or 1.47 per cent.

    Nifty Bank closed at 51962.70 after falling 131.50 points or 0.25 per cent. Except for the auto and fin services sectors of Nifty, selling was seen in IT, PSU bank, pharma, FMCG, metal, realty, media, energy, private bank, infra, and commodities sectors.

    The market trend remained negative. On the Bombay Stock Exchange (BSE), 1,133 stocks were trading in the green, 2,900 stocks in the red, and 142 stocks closed without any change.

    kotak mahindra bank kotak mf uday kotak schemes debt equity investors lti facility

    Tata Consumer and Kotak Mahindra Bank top losersReuters file

    Nifty’s top gainers included Bajaj Auto, HDFC Bank, Asian Paints, M&M, and Eicher Motors. Tata Consumer, Kotak Mahindra Bank, Bajaj Finserv, BPCL and IndusInd Bank were the top losers.

    Kotak Bank, Bajaj Finserv, IndusInd Bank, Bajaj Finance, UltraTech Cement, Infosys, and TCS were the top losers in the Sensex pack. HDFC Bank, Asian Paints, M&M, Maruti, and Tech Mahindra were the top gainers.

    According to market experts, the domestic market displayed considerable volatility, with key indices swinging between negative and positive terrain. Concurrently, domestic Q2 earnings have been mostly underwhelming, with major private sector banks notably disappointing, they said. However, DIIs have offered some support, mitigating the market’s decline, they added.

    The Indian stock market opened in green on Monday in morning trade as buying was seen in the auto, IT and PSU bank sectors. The Sensex was trading at 81,653.83 after gaining 429.08 points or 0.53 per cent. Nifty opened at 24,955.50 after climbing 101.45 points or 0.41 per cent.

     (With inputs from IANS)

     

  • Indian stock market opens in green, Sensex rises 429 points; Led by Auto, IT and bank sectors

    market bull

    Indian stock market opens in green, Sensex rises 429 pointsIANS

    The Indian stock market opened in green on Monday as buying was seen in the auto, IT and PSU bank sectors.

    The Sensex was trading at 81,653.83 after gaining 429.08 points or 0.53 per cent in early trade. Nifty opened at 24,955.50 after climbing 101.45 points or 0.41 per cent.

    The market trend remained positive. On the National Stock Exchange (NSE), 1,509 stocks were trading in green, while 602 stocks were trading in red.

    At the same time, 1,727 stocks were trading in green and 807 stocks in red on the BSE.

    Nifty Bank was at 52,335.50 after gaining 241.30 points or 0.46 per cent. Nifty Midcap 100 index was trading at 58,954.85 level after slipping 305.70 points or 0.52 per cent. Nifty Smallcap 100 index was at 19,122.45 after gaining 44.65 points or 0.23 per cent.

    Tech Mahindra, HDFC Bank, Axis Bank and Wipro were the top gainers in the Sensex pack. Kotak Mahindra, Bharti Airtel, M&M and NTPC were the top losers.

    HDFC Bank, Tech Mahindra, SBI Life Insurance, and Axis Bank were the top gainers in the Nifty pack. Tata Consumer Products Limited, Kotak Mahindra, BPCL, and Bharti Airtel were the top losers.

    Market outlook: Futures and options expiry, FII data and global cues key factors next week

    Market trend remained positiveIANS

    In Asia, the markets of Jakarta, Shanghai, and Tokyo were trading in the green. At the same time, the markets of Bangkok and Hong Kong were trading in the red. The US stock market closed in the green on the last trading day.

    According to experts, with the US markets setting new record highs, the global stock market rally appears intact.

    The steady decline in crude and stability in the US bond yields impart resilience to the stock market despite lingering tensions in the Middle East, they added.

    “More importantly, the financial segment is doing well and is in the pink of health. Q2 results of leading banking names like HDFC, Kotak and Axis indicate improving prospects,” according to market watchers.

    Foreign institutional investors (FIIs) sold equities worth Rs 5,485 crore on October 18, while domestic institutional investors bought equities worth Rs 5,214 crore on the same day.

    (With inputs from IANS)

     

  • Indian Stock Market : Long-term outlook for domestic market remains robust amid geopolitical risks

    sensex

    Long-term outlook for Indian stock market remains robust amid geopolitical risksIANS

    Despite a sustained selling pressure from the foreign institutional investors (FIIs) amid geo-political tensions this week, the long-term outlook for the domestic market remains robust with a stability in growth and a pickup in capex, experts said on Saturday.

    Apart from heavy FII selling, muted Q2 earnings expectations and elevated valuations also acted as a headwind for the market this week.

    The market watchers said they expect the market to be range-bound in the short term with mixed bias, while investors should turn more sector- and stock-specific in such a time.

    Focus will be on large caps and growth areas like staples, agriculture, FMCG, consumption, power, digital, and infra. Buy-on dips will be the strategy on a short- to medium-term basis.

    According to Rajesh Bhosale, equity technical analyst, Angel One, the market remains in a consolidation phase, with little change in chart structure.

    “While prices tested the lower end of the trading range and closed near it, a break below 24,900 could open doors for further weakness, potentially testing the 24,700 level. On the upside, resistance is seen around 25,100 followed by the 25,250 level; only a move beyond this range might spark some bullish momentum on the hourly charts,” he explained.

    SEnsex

    Traders are advised to avoid aggressive bets and be selectiveIANS

    On Friday, the Indian stock market bucked the negative trend, as both the Sensex and Nifty indices jumped upwards.

    The Sensex closed at 81,224.75 after gaining 218.14 points, or 0.27 per cent, at the end of trading. At the same time, the NSE Nifty closed at 24,854.05 after gaining 104.20 points or 0.42 per cent.

    The Nifty Midcap 100 index closed in green at 58,649.15 after gaining 183.20 points or 0.31 per cent at the end of trading. The Nifty Smallcap 100 index closed at 19,077.80 after gaining 11.85 points or 0.06 per cent.

    For next week, traders are advised to avoid aggressive bets and be selective.

    “It’s also crucial to monitor global factors closely, as they could influence market direction ahead of the weekly expiry,” they added.

    Geopolitical tensions and uncertainty ahead of the US presidential election paved the way for haven asset gold to climb a new record high.

    Gold prices continued their strong upward momentum, with a sharp rise of Rs 500 in MCX, taking the price to Rs 77,600, supported by Comex gold surging above $2,710.

    This robust strength is largely driven by the expectation of ongoing interest rate cuts in the US, with further reductions anticipated in the near future, the experts noted.

    The rupee remained flat at 84.05 as the dollar index also held steady around $103.50.

    “Despite the broader strength in the dollar, the rupee has managed to stay stable for the time being. Although crude weakness provides some support, the heavy fund outflows are expected to push the rupee further down towards the 84.15-84.25 range in the coming days,” said Jateen Trivedi from LKP Securities.

    (With inputs from IANS)