Stock Market Live: The stock market has once again started the first trading day of the week with the edge today. The 30-stock key Sensex on the BSE opened at 55695.84 with a jump of 366 points on Monday. At the same time, the National Stock Exchange’s Nifty also opened at 16,592.25. In early trade, the Sensex was trading at 55,741 with a rise of 411 points, while the Nifty gained 116 points at 16,5666. The Sensex fell 107.97 points or 0.19 per cent.
Tata Steel, JSW Steel, Hindalco, Tata Motors and HCL Tech were the nifty top gainers in the early trade, while Tata Consumer, Hindustan Unilever, Adani Ports, Bajaj Auto and Hero Motors were the losers.
How the stock market moves this week
The direction of stock markets is determined by global trends this week. In addition, there may be a slight fluctuation in the market due to the disposition of derivative contracts. Analysts have expressed this view. Global markets witnessed strong sales last week amid the prospect of the US central bank withdrawing its softer financial stance than anticipated by the Federal Reserve, rising cases of delta adaptation of the coronavirus and China’s move in terms of regulation.
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Vinod Nair, head of research at Geojit Financial Services, said: “In the absence of significant financial data in the domestic arena, the market is being guided by global developments.
Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said, “Continuing, the market is guided by global indicators. Increasing cases of delta variants globally are a major concern for the current market. Analysts say the market will take a direction from the fluctuations of the rupee, the price of Brent crude oil and the inflow of foreign funds.