Indian Stock Market Opens Strong, Sensex Up 0.69% and Mid-Cap Stocks Lead Gains

Feb 02 2024 02:00 PM IST
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The Indian stock market has started the day on a strong note, with the Sensex opening 332.26 points higher and currently trading at 72,136.72, a gain of 0.69%. The market is being driven by positive sentiment, with the 50-day moving average (DMA) trading above the 200 DMA. Mid-cap stocks are leading the way, with the BSE Mid Cap index gaining 0.86% today. The advance-decline ratio across BSE500 is at 1.5x, with 300 stocks advancing and 200 declining. Out of the 39 sectors, 36 are advancing today while only 3 are declining. Investors are also keeping an eye on upcoming results, with Grindwell Norton, St Bk of India, and GHCL set to announce their results on 03rd Feb 2024.
The Indian stock market is off to a strong start today, with the Sensex opening 332.26 points higher and currently trading at 72,136.72, a gain of 0.69%. This puts the Sensex just 1.79% away from its 52-week high of 73,427.59. The market is being driven by positive sentiment, with the 50-day moving average (DMA) trading above the 200 DMA. Mid-cap stocks are leading the way, with the BSE Mid Cap index gaining 0.86% today. The advance-decline ratio across BSE500 is at 1.5x, with 300 stocks advancing and 200 declining. The mid-cap segment is seeing the most gains, with BSE100 and SMLCAP also rising by 0.75% and 0.64%, respectively. Among the top gainers in the BSE500 index are Pun. & Sind Bank (17.89%), NBCC (15.56%), and Engineers India (11.92%). On the other hand, One 97 (-20.00%), HFCL (-4.70%), and City Union Bank (-4.03%) are among the top losers. Out of the 39 sectors, 36 are advancing today while only 3 are declining. The top gaining sector is OILGAS, with a gain of 4.25%, while the top losing sector is S&P BSE Telecommunication, with a decline of 0.20%. Small-cap stocks are trading flat today. In terms of individual stocks, the top large-cap gainer is B P C L (9.88%), while the top mid-cap gainer is SJVN (10.24%) and the top small-cap gainer is BEML Land Assets (19.99%). On the other hand, the top large-cap loser is Shree Cement (-3.45%), the top mid-cap loser is Bayer Crop Sci. (-3.88%), and the top small-cap loser is Ramky Infra (-17.94%). Investors are also keeping an eye on upcoming results, with Grindwell Norton, St Bk of India, and GHCL set to announce their results on 03rd Feb 2024. With the market showing positive momentum, it will be interesting to see how these results impact the overall sentiment. Stay tuned for more updates on the Indian stock market.

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