The stock market opens on a flat note, with early gains quickly erased, leading to modest losses. The NIFTY50 and SENSEX were down by 0.05% and 0.07%, respectively. While broader markets opened positively, Nifty Realty and Nifty Pharma emerged as the top gainers, with Nifty IT and Nifty Financial Services among the top losers. The India VIX declined by 1.65%, trading around the 13.8 mark.
The subdued opening was attributed to market participants tracking sluggish US stock futures. Investors are now focused on the upcoming US jobs report for August, scheduled to be released on Friday, September 6.
In terms of institutional activity on Monday, September 02, 2024, foreign institutional investors (FIIs) bought shares worth ₹1,735.46 crore, while domestic institutional investors (DIIs) purchased shares worth ₹356.37 crore.
At 9:30 AM, the SENSEX was marginally lower by 0.07%, trading below the 82,550 level, and the NIFTY50 also declined by 0.07%, trading below the 25,300 mark. The Nifty Midcap 100 index was up by 0.39%, and the Nifty Smallcap 100 gained 0.54%, showing a market breadth favoring advances.
Sector-wise, Nifty Realty, Nifty Pharma, and Nifty Metal were among the top gainers, while Nifty IT, Nifty PSU Bank, and Nifty Bank saw losses. Hindalco Industries, Shriram Finance, and ONGC were the top gainers in the NIFTY50, while Bajaj Finance, LTIMindtree, and Bajaj Auto led the losers.
