Mumbai. The Indian Stock Market opened in a limited range on Monday, the trading day a week ago. Selling is being seen in PSU Bank, Financial Services, Pharma, FMCG in early trade. BSE Sensex is trading at 79,388.77 after slipping 97.55 points or 0.12 per cent. At the same time, NSE’s Nifty is trading at 24,140.15 after slipping 8.05 points or 0.03 percent. However, the market trend remains positive. On the National Stock Exchange (NSE), 563 shares are trading in the green, while 1439 shares are trading in the red. Nifty Bank is at 51,472.15 after slipping 89.05 points or 0.17 percent. Nifty Midcap 100 index is trading at 55,994.05 level after falling 357.95 points or 0.64 per cent. At the same time, Nifty Smallcap 100 index is at 18,268.30 after slipping 177.30 points or 0.96 percent. Asian Paints, Axis Bank, IndusInd Bank, Bajaj Finance, Reliance ICICI Bank, UltraTech Cement, Bajaj Finserv and NTPC were the top losers in the Sensex pack. Whereas Tata Motors, Power Grid, Maruti, M&M, SBI, HCL Tech and Infosys were the top gainers.
Talking about Asian markets, the markets of Shanghai, Hong Kong, Jakarta, Tokyo, Seoul and Bangkok were trading in the red. At the same time, the American stock markets closed on the green mark on the previous trading day. According to market experts, the continuous rally in the US markets, which has taken the Dow and S&P 500 above 40000 and 6000 respectively, is no longer favorable for the Indian markets. Experts further said that a worse-than-expected decline in earnings for FY2025 in India is impacting stock prices, leading to a bearish trend in the near term. FIIs may continue to sell their money and invest in the US, which has outperformed India so far this year. Foreign institutional investors (FIIs) sold equities worth Rs 3,404 crore on November 8, while domestic institutional investors bought equities worth Rs 1,748 crore on the same day.