Mumbai, Nov 22 || The Indian stock market opened in green on Friday amid fresh tensions between Russia and Ukraine, as buying was seen in PSU bank, and realty sectors.
In early trade at around 9:41 am, Sensex was trading at 77615.50 after gaining 459.71 points or 0.60 per cent, while the Nifty was at 23,489.75 after gaining 139.85 points or 0.60 per cent.
Market watchers said that there are some important takeaways from the market trends in the present context.
“The Russia-Ukraine war has escalated with Russia firing even Inter Continental Ballistic Missiles. The relentless selling by FIIs continues with the selling spree reaching a record continuous 37 days. But the market has corrected only by about 11 per cent from the September peak,” they said.
“This is a correction, not a crash. The mother market US is bullish with 25.43 per cent return YTD. These factors suggest that the undertone of this market is positive,” according to experts.
The market trend remained positive. On the National Stock Exchange (NSE), 1,713 stocks were trading in green, while 492 stocks were trading in red.
Nifty Bank was up 517.25 points or 1.03 per cent at 50,890.15. Nifty Midcap 100 index was trading at 54,782.90 after gaining 397.55 points or 0.73 per cent. Nifty Small cap 100 index was at 17,718.45 after rising 121.85 points or 0.69 per cent.
In the Sensex pack, SBI, ICICI Bank, Tata Motors, Power Grid, IndusInd Bank, Ultra Tech Cement, NTPC, Bajaj Finserv, Tech Mahindra and Bajaj Finance were the top gainers and Axis Bank was included in the list of top losers.