GG News Bureau
Mumbai, 30th Sept. In the first trading session of the week, Indian equity markets exhibited weakness, with benchmark indices opening in the red. The National Stock Exchange (NSE) Nifty 50 opened at 26,106, down 0.28%, while the Bombay Stock Exchange (BSE) Sensex started at 85,284, down 288 points. The broader indices also opened lower, and the Bank Nifty index fell by 173 points to 53,661.
Top Gainers and Losers
At the start of trading, Hindalco, NTPC, JSW Steel, Tata Steel, and Britannia emerged as the top gainers in the Nifty 50 index. Conversely, Hero MotoCorp, Tech Mahindra, Coal India, M&M, and ICICI Bank were identified as the top losers as of September 30.
Crude Prices
On Monday morning, WTI crude prices rose by 0.41% to $68.46, while Brent crude prices increased by 0.42% to $71.84. According to the Financial Express, the US Dollar Index (DXY), which measures the dollar’s value against six foreign currencies, rose by 0.03% to 100.45.
Stocks in Focus
The NSE Nifty Metal Index surged by 1.66%, reaching 10,232.05, marking its highest level since its listing. The increase was primarily driven by Hindalco Industries Ltd. and Tata Steel Ltd. Shares of Welspun Enterprises Ltd. saw a rebound after two days of decline, rising nearly 6%.
Foreign Investment in September
In September, foreign investors injected ₹57,359 crore into Indian equities, marking the highest investment in the past nine months. This surge is attributed to the US Federal Reserve’s interest rate cuts. According to depository data, this investment has pushed the total foreign portfolio investment in Indian equities for 2024 past ₹1 lakh crore.
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