Read Desk. The market started with a quiet but steady opening on the morning of Thursday, December 4. At the beginning of the fourth trading day of the week, the Sensex was up by almost 20 points at around 85,150. Nifty also did the same and reached 26,006.
This slight rise in the market may not seem very big, but sector-wise movement kept the sentiment intact.
Which stocks are driving the market higher?
18 out of 30 Sensex stocks were in the green. Buying was seen in 26 out of 50 stocks of Nifty 50. Strong buying was seen in the auto, IT and metal sectors right from the beginning. These three sectors kept the market stable.
On the contrary, selling pressure was seen in media and pharmaceuticals, due to which both these sectors went into the red.
Mixed mood in Asian market
Talking about global signals, trading in Asia too was not one-sided today. Korea’s Kospi fell 1.15% to 3,990, a weak benchmark. Japan’s Nikkei rose 1.47% to 50,596, which is the strongest index.
Hong Kong’s Hang Seng was trading 0.41% higher at 25,867. These signals were also seen in the early trading of the Indian market.
Signs of strength from US market
US markets closed strongly on the night of 3 December, which is a good sign for the Indian market. The Dow Jones Industrial Average closed 0.86% higher at 47,882.
Nasdaq rose 0.17% to 23,454.
The S&P 500 rose 0.30% to 6,850. This slight increase in the US index supports global sentiment.
FIIs are selling again
Foreign investors have been withdrawing money from the Indian market for three days. On December 3 alone, FIIs sold shares worth ₹3,206.92 crore. On the same day, domestic investors, or DIIs, bought shares worth ₹4,730.41 crore.
About the first three days of December
Total sales by FIIs: ₹8,020.53 crore
Total purchases by DIIs: ₹11,935.28 crore
A similar trend was seen in November also. FIIs sold heavily, but domestic investors managed to stabilize the market.
The market slipped a bit yesterday
On December 3, a slight fall of 31 points was seen in the Sensex. Sensex closed at 85,107. Nifty also fell 46 points and closed at 25,986. Out of 30 Sensex stocks, 20 declined. While auto, energy and FMCG sectors remained under pressure, IT and banking sectors remained strong till the end.
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