Share Market Open: Strong start of Indian stock market, Nifty opens near 18700

Share Market Open 13 June 2023 fast trading continues in the Indian market. Almost all the indices including FMCG Banking Oil Gas Infra opened with gains. Brent crude remains around $72. (Jagran Graphics)

Share Market Open: Strong start of Indian stock market, Nifty opens near 18700

Retail inflation coming down to 4.25 percent in May has been welcomed by the market. Both the indices of the Indian market opened in the green mark. Till the time of writing the news, the Sensex has gained 341.43 points or 0.53 percent to 63,053.16 points and the Nifty has gained 93.55 points or 0.50 percent to 18,695.75 points.

Till 9:40 am, 1536 shares are trading in green mark and 399 shares in red mark on NSE. Today, except for Nifty's media index, almost all the indices including FMCG, Banking, Oil Gas, Infra have gained momentum.

Who are the top gainers and losers?

Asian Paints, ITC, Titan Company, Nestle, Axis Bank, HUL, Tata Motors, Bajaj Finserv, Sun Pharma, Infosys, Bharti Airtel, Tata Steel, IndusInd Bank, Maruti Suzuki, Tech Mahindra, TCS, Power Grid and Chemicals in the Sensex pack The stock opened with a sharp rise. Only HCL Tech and Kotak Mahindra declined.

Condition of foreign markets

Most of the markets in Asia are trading with a boom. Markets in Tokyo, Hong Kong, Taipei, Seoul and Bangkok are trading in the green, while those in Shanghai and Indonesia are down. In Monday's session, the US market saw a boom and closed with a gain of half a percent. Crude oil benchmark Brent crude remained at $ 72.31 per barrel with a gain of half a percent.

The enthusiasm in the market due to low inflation

The May retail inflation eased to 4.25 percent due to a decline in the prices of food articles. This was the lowest level of inflation in the last 25 months. Earlier in April 2021, the inflation rate was at 4.23 percent. May 2023 was the fourth consecutive month when the inflation rate has come down.