As RBI kept the interest rates unchanged in its fourth bi-monthly session, the stock market today is on an upward swing. All the sectors are in the green today around 10.35 a.m., with realty, pharma and PSU Banks taking the lead.
The Nifty 50 closed yesterday at 19545.75 and opened today at 19621.20 following the announcement by RBI. Currently, the Nifty 50 is up by 0.35% from the previous day’s closing.
While RBI’s decision is affecting the stock market today the most, cooling crude prices is also pushing the market upward.
Sectors in the Green
NSE Realty Sector Today
With the festive sales picking up, the realty sector is moving upward. Nifty Realty index gained 0.93% within the first two hours of market opening. All the stocks in this index are in green, which is an impressive sight for investors.
Top NSE Realty Stocks Today
- Godrej Properties has led the realty index of NSE with a 1.63% gain until now. The stock closed at 1599.35 yesterday and opened today at the same price; however, it moved upward within the first hour of the market and is currently at 1623.40. The primary reason behind the surge is a positive market movement with the kicking-in festive season.
- Phoenix Ltd. is the next stock in this sector, up by 0.96% due to positive market sentiment and overall growth in the realty market.
- The next stock, which is pulling the realty sector upward, is Macrotech Developers Ltd. or Lodha, which has gained around 0.74% by now since the market opening. The price is going up as the company reported positive quarterly sales report. The company’s pre-sales have increased by 12% on a YoY basis and 5% on a QoQ basis. The collections have also increased by 16% and 14% on a YoY and QoQ basis, respectively.
NSE Pharma Sector Today
The Pharma sector after declining in the past few market session have again picked up as the market is in an upswing. Nifty Pharma has gained 0.79% until now and is currently at 15139.35 from its previous close at 15021.40. All the stocks of this index are also in the green except just one stock, which is Natco Pharma. The top-performing pharma stocks in the first half are as follows –
Top NSE Pharma Stocks Today
- Laurus Labs Ltd. has gained 1.49% from yesterday’s close owing to the positive market sentiment.
- Granules India Ltd. has surged by 1.13% until now. The stock of this company is surging steadily after it got 58 confirmed and 2 tentative approvals from ANDA.
- Aurobindo Pharma has gained around 1.08% from its previous close.
NSE PSU Bank Sector Today
The upward movements in PSU Banks’s share price in the stock market today are inevitable after the central bank keeps rates unchanged. The Nifty PSU Bank index has gained 0.88% until now with most of its constituents in the green except a few which are marginally low today.
Top NSE PSU Bank Stocks Today
- Canara Bank has been the top gainer in this sector at current price levels. The stock has surged by 1.62% relying on the RBI’s decision.
- Bank of Baroda is also moving upward and currently gained 1.25%. This PSU bank has announced its next board meeting to be held on the 11th of this month and they would consider fundraising, which is giving the required push to the organisation along with the RBI’s announcement today.
- State Bank of India is the next stock in this sector to move upward by 0.84% until now following the unchanged interest rate decision of RBI again, also due to the overall positive sentiment of the investors in the stock market today.
Today, the overall market sentiment is positive, with most stocks in the green and gaining significantly well. It is a rare sight that none of the sectors is in the red today, and even most of the stocks in the sectoral indices are in the green as the first week of October ends.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.