Stock market open today Sensex and nifty are doing business Tuesday February 8 | Sensex changed the game as soon as the market opened, the stock market saw a good start

Stock market open today sensex and nifty - India TV Paisa
Photo: File Sensex changed course as soon as the market opened

Stock market open today: Today the beginning of the stock market is looking very good. The Sensex is trading at 60,416 with a gain of 130 points, while the Nifty is trading at 18,658 with a gain of 16 points. Let me tell you that yesterday the Adani Group ACC company, Adani Enterprises, Adani Ports and SEZ and Adani Wilmar gained momentum. Adani Enterprises jumped more than 15%. While shares of Adani Green Energy, Adani Power, Adani Total Gas, Adani Transmission and Ambuja Cement all declined. However, the sale returned to dominate the market later. Because of this, the 30-stock BSE Sensex fell 220.86 points to close at 60,286.04 points. Similarly, there was also weakness in NSE Nifty. The NSE Nifty closed 43.10 points down at 17,721.50. Of the 30 Sensex stocks, 16 advanced. Banking, IT and pharmaceutical stocks fell today.

The sale was seen on the first day of the week.

At the same time, the rupee lost 65 paise to close at 82.73 (provisional) per dollar on the interbank foreign exchange market. The downward trend in the shares of Adani Group companies also continued on Monday. On Monday, shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar closed down five percent due to the BSE. While Adani Transmission closed down 10 percent, in a report by US short seller Hindenburg Research, the group led by Gautam Adani was accused of fraudulent transactions and stock price manipulation. From then on, the process of falling shares of group companies began. The Adani Group, however, has dismissed the allegations saying it has been complying with all disclosure and legal requirements.

Both of these things will be important to the market this week.

The direction of the stock markets this week will be determined mainly by the Reserve Bank of India (RBI) decision on interest rates. Apart from this, the eyes of investors will be on the results of the third quarter of the companies. However, global trends and the movement of foreign funds will also play a role. Analysts believe that the Brent crude price and the movement of the rupee will also be important from a market point of view. Pravesh Gaur, a senior technical analyst at Swastika Investmart, said that all eyes will be on the direction of the US market. However, the entry of Foreign Institutional Investors (FIIs) will be significant as they have been selling heavily in the Indian markets since early 2023. Their sale has increased further after the Adani group developments. This week, in addition to the third quarter results of companies such as Bharti Airtel, Hero MotoCorp, Hindalco and Mahindra & Mahindra, macroeconomic data will be released in the US. The Reserve Bank’s monetary announcement will be important from the point of view of the market. The central bank’s Monetary Policy Committee (MPC) will announce its decision on interest rates on February 8.

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