English
English
English
Early trades hint at surprises! As Nifty hovers near crucial levels and IT stocks gain attention, investors are watching closely- will today see a rally or a sudden dip? Find out which stocks are in the spotlight this morning.
Market Opens Flat Amid Mixed Global Cues
New Delhi: The Indian stock market opened with a muted tone on October 10. The GIFT Nifty, an early indicator of the NSE Nifty 50, was trading at 25,264, suggesting a marginally positive start.
However, Asian markets showed mixed performances, with Japan's Nikkei 225 declining by 0.60%, while South Korea's Kospi gained 1.88%. The US markets had closed lower on Thursday, with the Dow Jones Industrial Average falling 0.52% and the S&P 500 losing 0.28%.
Stock Market Today: Sensex falls 100 pts, Nifty below 24,800; Know where to invest
Information Technology (IT) stocks are in focus today following Tata Consultancy Services' (TCS) announcement of a $6.5 billion investment in artificial intelligence infrastructure. TCS's Q2 results were in line with expectations, but the AI initiative is expected to drive future growth. Other IT stocks like Tata Elxsi are also likely to see increased investor interest.
mint
The Nifty 50 index continues to trade within a broad range of 24,900 to 25,200. A breakout above 25,200 could signal a bullish trend, while a fall below 24,900 may indicate a bearish phase. Investors are advised to monitor these levels closely.
IT Stocks in Spotlight
Foreign Institutional Investors (FIIs) have been net buyers in the Indian market over the past three sessions, purchasing shares worth ₹1,308 crore on Thursday. This renewed interest from foreign investors is contributing to the positive sentiment in the market.
mint
TCS: Watch for movements following its AI investment announcement.
Tata Elxsi: Potential upside in line with TCS's AI initiatives.
Infosys: Recently announced a ₹18,000 crore share buyback program, which could influence stock performance.
NTPC Green Energy: Renewable energy stocks are gaining traction amid global sustainability trends.
M&M: Automobile sector stocks are expected to perform well with the onset of the festive season.
The Indian stock market is showing resilience despite global uncertainties. With strong domestic liquidity and improving global cues, the market is expected to trade with a positive bias. Sector-specific actions, especially in IT and renewable energy, are likely to drive market movements in the short term
