The Indian stock market began with a mixed bag, with the Sensex and Nifty both beginning 0.15 percent lower.

Pre-market scenario: US banking stocks performed well during Wednesday’s trading session, propelling the S&P 500 bank index to a 1.70 percent rise for the third consecutive session and the eighth gain in nine sessions. The Dow Jones Industrial Average jumped 0.31 percent to 35,061.21, while the S&P 500 and Nasdaq Composite gained 0.24 percent and 0.03 percent, respectively, to 4,565.72 and 14,358.02. On that day, the good momentum in the banking sector contributed to an overall bullish feeling in the US markets.

At 9:30 a.m., the Indian stock market had a mixed trend, with the Sensex and Nifty both opening 0.15 percent lower. However, the Nifty Midcap and Nifty Small-Cap indexes opened higher, gaining 0.13 percent and 0.2 percent, respectively.

Nifty Media, Nifty PSU Bank, and Nifty Energy were among the Top Gainers among the sectors indexes, while Nifty IT, Nifty Auto, and Nifty FMCG were among the Top Losers.

Power Grid, Dr Reddy’s Laboratories, and NTPC were among the top gainers on the Nifty 50 index, while Reliance, Infosys, and HCL Tech suffered losses.

In terms of market breadth, over 1185 equities were advancing, outnumbering 643 dropping stocks, showing a strong market sentiment.

On July 19, foreign institutional investors (FII) purchased Rs 1,165.47 crore in shares, while domestic institutional investors (DII) sold Rs 2,134.54 crore in shares.

The following Penny Stocks were locked in the upper circuit on July 20, 2023:

Company Name LTP / Close Circuit Limit %
ACI Infocom Ltd 1.04 9.47
Metalyst Forgings Ltd 2.73 5
Future Lifestyle Fashions Ltd 5.88 5
Manor Estates and Industries Ltd 3.79 4.99
Nagarjuna Agri Tech Ltd 7.57 4.99
Encode Packaging India Ltd 8.42 4.99
Jyoti Structures Ltd 9.25 4.99
Vandana Knitwear Ltd 2.32 4.98
Prashant India Ltd 8.22 4.98
Archana Software Ltd 6.34 4.97

These Penny Stocks should be monitored by investors.

Disclaimer: This post is provided for informational purposes and does not constitute investment advice.

By Deesha

Leave a Reply

Your email address will not be published. Required fields are marked *