NIFTY50 and SENSEX open in green; Reliance, ITC and NTPC key index movers on Monday

Indian markets started the day with significant gains, with NIFTY50 soaring by 0.26% and SENSEX up by over 0.19%. The broader markets also opened in positive territory. The India VIX plunged over 0.16%, reaching around the 14.38 mark, signalling decreased volatility.

The US markets ended higher on Friday as investors played down a recession risk on stronger than expected retail sales data. Asian markets are trading mixed on Monday after global equities enjoyed their best week in nine months on expectations the US economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts.

FII and DII Activity

On Friday, August 16, 2024, foreign institutional investors (FIIs) bought shares worth ₹766.52 crore, while domestic institutional investors (DIIs) bought shares worth ₹2,606.18 crore.

Market Indices

At 9:25 AM, the SENSEX traded 0.19% higher above the 80,500 level. The NIFTY50 also rose by over 0.26%, trading above the 24,550 mark. The Nifty Bank also increased by 0.12%, trading above the 50,500 level.

Broader Indices

Looking at the broader indices, the Nifty Midcap 100 index was trading up by 0.46% above the 57,900 level, while the Nifty Smallcap also trading up by 1.12%, near the 18,600 level. Market breadth remains strong as advancing stocks outnumber the declining stocks.

Sectoral Performance

Within the sectoral landscape, NIFTY Media (+1.84%), NIFTY PSU Bank (+1.32%), and NIFTY Energy (+1.22%) were the top-performing sectors.

Top Gainers and Losers

U.S. Markets

U.S. stocks closed higher on Friday, extending their biggest weekly percentage gains of the year, as concerns about an economic downturn faded and investors focused on the Jackson Hole Economic Symposium next week.

The U.S. 10-year Treasury yield rose 20 basis points to 3.89%, while the U.S. 2-year bond yield increased 36 basis points to 4.06%.

Commodities

Oil prices fell in early Asian trading on Monday as concerns about weakening demand in top oil importer China impacted the market mood. Investors focused on the development of Middle East ceasefire talks, which might alleviate supply worries.

U.S. West Texas Intermediate crude futures dropped $0.13, or 0.17%, reaching $75.41 per barrel.

Stocks in F&O Ban Stocks that are banned for trading in the F&O segment on August 19, 2024, are Aarti Industries, Aditya Birla Fashion, Bandhan Bank, Biocon, Chambal Fertilisers, GNFC, Granules India, India Cements, IndiaMart, LIC Housing Finance, Manappuram Finance, NMDC, Piramal Enterprises, PNB, RBL Bank, SAIL, and Sun TV.