NIFTY50 and SENSEX open 0.3% lower; ICICI Bank and Reliance key index pullers

Indian markets started the week negatively, with both NIFTY50 and SENSEX down by 0.30%. The broader markets also opened in the red. In early trading, most sectors were declining, except for Nifty Realty and Pharma, which were in the green. The India VIX surged over 6%, reaching around the 16.25 mark, signalling increased volatility. In addition, investors took a cautious stance ahead of the release of key CPI data later in the evening.

FII and DII Activity

On Friday, August 9, 2024, foreign institutional investors (FIIs) bought shares worth ₹406.72 crore, while domestic institutional investors (DIIs) bought shares worth ₹3,979.59 crore.

Market Indices

At 9:30 AM, the SENSEX was trading 0.30% lower below the 79,500 level. The NIFTY50 also declined by 0.30%, trading below the 24,300 mark. Similarly, Nifty Bank experienced a decline of around 0.40%, trading below the 50,350 level.

Broader Indices

Looking at the broader indices, the Nifty Midcap 100 index was trading down by 0.31%, below the 57,000 level, while the Nifty Smallcap 100 plunged by 0.19%, trading below the 18,400 level.

Sectoral Performance

Within the sectoral landscape, NIFTY Realty (+0.63%) was the top gainer, while NIFTY Media (-1.03%), Nifty PSU Bank (-0.68%) and NIFTY Metal (-0.67%) among the top losers.

Top Gainers and Losers

In the NIFTY50 space, Britannia (+0.47%), ONGC (+0.57%), and Asian Paints (+0.26%) were among the top gainers. On the other hand, Adani Enterprises (-3.12%), Adani Ports (-1.66%), and NTPC (-1.21%) were among the top losers.

U.S. Markets

The S&P 500 recovered nearly all of its losses from Monday's sharp decline, which was brought on by concerns about a recession and the unwinding of a global yen-funded carry trade. On Friday, the index ended higher and showed little change for the week.

Commodities

Oil prices did not change much in early trading on Monday, retaining the majority of last week's gains, supported by geopolitical tensions and improved economic data.

U.S. West Texas Intermediate crude futures gained $0.21, or 0.27%, reaching $77.05 per barrel.

Stocks in F&O Ban

Stocks that are banned for trading in the F&O segment on August 12, 2024, are Aditya Birla Capital, Aditya Birla Fashion Retail, Bandhan Bank, Biocon, Birlasoft, GNFC, Granules India, Hindustan Copper, India Cements, IndiaMart Intermesh, LIC Housing Finance, Manappuram Finance, PNB, RBL Bank and SAIL.