Share Market: Nifty opened at record high, but fell after opening, huge jump in metal stocks
Metal stocks rose after a good opening in the stock.
Mumbai:
Despite mixed signals from Asian markets, the domestic stock markets opened with a good jump on Wednesday. However, in the early trade, the market lost early gains and started trading in the red mark. There was a record closing on Wall Street in the last trading session, but despite this, fear is spread in the market in view of the increasing infection of Coronavirus in many Asian countries. However, remaining untouched by this, both the domestic benchmark indices opened with a good jump. Nifty opened at its new record high above 16,300. Due to the presence of buying in metal stocks, there has been a tremendous jump in the index.
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After a good opening, the market lost the initial profit and then started trading after falling. At 10.19 in the morning, the Sensex had fallen by 140.60 points, or 0.26%, and the index had come down to 54,414.06. During this, the Nifty had fallen by 42.35 points or 0.26% and the index fell to the level of 16,237.75.
In the opening, the Sensex opened at 54,696.41 with a jump of 141.75 points or 0.26%. At the same time, Nifty opened at the level of 16,330 with a jump of 49.90 points i.e. 0.31%. At the time of opening of the market, 1099 shares rose, while 760 shares fell.
The decline was seen in 10 sectors of the NSE, in which the biggest fall was in the Pharma Index, a fall of 0.85 percent. There was also a negative trend in IT, Financial, Media, Banks, Realty and Consumer durables. On the other hand, the metal index registered a jump of up to 2 percent.
Talking about Asian markets, MSCI saw a rise of 0.8 percent. The Chinese market fell 0.38 percent and the Korean Kospi 0.37 percent.