On Friday, the stock market got off to a cautious start due to weak global cues that dampened investor confidence. The opening bell saw the Sensex edging lower by 206.66 points, opening at 64,957.18, while the Nifty also began on a downtrend, slipping 68.80 points to start at 19,315.30.
As the market opened its doors for the trading day, a mixed pattern emerged among the Nifty firms. Of the total, 17 firms made advances, 32 firms experienced declines, and two firms remained unchanged, indicating a cautious approach by investors at the opening.
Certain stocks managed to stand out as the top gainers in the initial moments of trading.
Despite the generally depressed market sentiment, Dr Reddy, Adani Ports, Divi’s Laboratories, Cipla, and Larsen & Toubro were among the top gainers. Early losses for HCL Tech, Wipro, TCS, HDFC Life, and SBI Life demonstrated the market’s diversity on this particular trading day. Rising bond yields in the US and a sharp decline in technology stocks combined to create a volatile session on the financial markets, pushing both the Dow Jones Industrial Average (Dow) and the Nasdaq Composite Index (Nasdaq) to their lowest closing points of the day.
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