Stock Market Live Updates: The Indian markets have gotten off to a historic start. The Nifty index, after opening over 1,200 points higher, is now inching closer to new record high, with a 700-point uptick. The Nifty Bank index is surging with a rise of over 1,500 points and is now above the marquee 60,000 mark.
The Nifty had clawed back from Sunday’s sell-off after the STT hike, despite the FII sell figure. The Nifty is 1,300 points away from its record high level of 26,377. The trade deal also puts the spotlight on export oriented sectors such as textile stocks (Gokaldas Exports, Welspun Living and others),
Shrimp stocks (Avanti Feeds, Apex Frozen Foods), could have a sentiment impact on IT stocks, auto and auto component names (particularly Bharat Forge) and more. Today is also the Nifty 50 weekly expiry and that could prompt some further short-covering in positions take earlier.
FIIs, that began the series net short by nearly 88%, will be the ones to watch as they could potentially return as buyers to the Indian market after the trade deal, as cited by many analysts.
Watch this space for all the LIVE stock market updates and stock reactions today.