Last updated: Mar 02, 2023, 9:33 AM IST
Sebi has approved the introduction of SSE as a separate segment on BSE and NSE. (Representative Image)
Sensex Today: Indian indices opened flat on March 2 amid mixed global signals. Both benchmark indices opened flat
Sensex Today: Indian indices opened flat on March 2 amid mixed global signals. Both benchmark indices opened flat. While Nifty50 traded below 17,450 levels, the S&P BSE Sensex hovered around 59,382 levels.
Bajaj Finserv, L&T, Hero MotoCorp, JSW Steel and Tata Steel were among the big winners of the Nifty, while losers included Adani Enterprises, TCS, Infosys, Maruti Suzuki and Power Grid Corporation.
However, broader markets outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 indices rose as much as 0.2 percent.
Sector-wise, the Nifty Media and Nifty Private Bank indices got off to a decent start, while the Nifty IT index was the hardest hit with a fall of almost 1 percent.
Dr. UK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The main concern for global equity markets remains rising US bond yields, which will hamper the inflow of FIIs into emerging markets such as India. Yesterday, the US 10-year yield hit 4%. FIIs cannot be expected to become buyers in this scenario. Investors should distinguish between FII sales amid rising interest rates in the US and DII purchases amid improving prospects for the domestic economy. Domestic economy-focused stocks such as banks, capital goods, cement, select autos and FMCG will continue to perform well. Bank stocks are resilient and are expected to remain strong even during FII sales.”
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