Sensex jumps 500 points to 81,570; Nifty rises 170 points as Garud Construction IPO opens
PTC Web Desk: The Sensex is trading with a gain of approximately 500 points, reaching the 81,570 mark, while the Nifty has risen by 170 points, currently trading at 24,970. Among the 30 Sensex stocks, 19 are in the green, whereas 11 are facing declines. In the Nifty 50 index, 30 stocks have advanced, while 20 are trading lower. Notably, all sectors, except for IT and Auto, are witnessing an upward trend.
The Asian stock markets are showing a mixed trend. Japan's Nikkei has declined by 1.20%, while Hong Kong’s Hang Seng Index has dropped by 7.38%. Conversely, China's Shanghai Composite has surged by 4.81%. On October 7, the US markets saw a downturn, with the Dow Jones dropping 0.94% to 41,954, the Nasdaq falling 1.18% to 17,923, and the S&P 500 declining 0.96% to 5,695.
According to data from the NSE, Foreign Institutional Investors (FIIs) offloaded stocks worth Rs 8,293.41 crore on October 7. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs 13,245.12 crore during the same period.
The Initial Public Offering (IPO) of Garud Construction and Engineering Limited is now open for subscription. Investors can bid for this issue until October 10, with the company’s shares expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 15.
In the previous trading session on October 7, the Sensex had closed with a loss of 638 points, settling at 81,050, while the Nifty fell by 218 points, ending at 24,795. The BSE Small Cap index also dropped by 1,827 points, closing at 54,117. Among Sensex's 30 shares, 23 saw declines, whereas 7 showed gains. Similarly, in the Nifty index, 40 stocks fell, and 10 advanced. Apart from the IT sector, most NSE sectors ended the session in the red.
- With inputs from agencies
