Tata Consumer share up by 3% as markets start the day on a positive note

Indian equity markets have started the day, today, 17^th September, in green. At 9:35 a.m. IST, Nifty 50 is up by 78 points or 0.31%. Sensex is up by 228 points or 0.28%. Market sentiments are bolstered by increased hopes of India and US reaching a bilateral trade deal. The expectation that US Federal Reserve will announce an interest rate cut today is also supporting market sentiments.

Lower interest rate in US will lower the cost of capital for foreign institutional investors (FIIs/ FPIs) that are based in US. The yield on US interest-bearing assets will also go down. This in turn may increase inflow of FIIs in markets such as India.

It is also expected that once the US Federal Reserve goes for an interest rate cut today, other central banks will also follow suit. Bank of Japan and Bank of England will also announce their monetary policy decisions later this week.

Top gainers & losers

Top 3 gainers at Nifty 50 at this time are Tata Consumer, BEL and Ultratech Cement. Top 3 losers at this time are Adani Ports, Eicher Motors and M&M. Auto stocks like Eicher Motors and M&M are seeing profit booking today after the gains of the past two days.

All the broad market indices are in green at this time, at NSE. All the sectoral indices, except for Nifty Metal Index, are in green at this time. Nifty Midsmall IT & Telecom index is the top gainer at this time. It is up by 0.07%. Nifty Metal index is the top loser at this time. It is down by 0.05%.

Market breadth strongly positive

Market breadth is strongly positive at this time. At NSE, 1996 stocks are gaining. 599 stocks are declining.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE