Share Market Update: Nifty Above 16500

Share Market Update: After four days of the continuous uptrend, today the market has a sluggish start, with Nifty above 16500.

Indian stock markets opened almost flat on Thursday after four consecutive days of the boom. Today the market is open in the red mark on the day of weekly expiry.

After the market opened, Sensex is trading around 55350 with a fall of about 50 points.

At the same time, Nifty is above 16,500 with a fall of about 10 points. However, after opening in the red mark, the market is continuously going upward.

Markets are trading flat after opening amid mixed global cues. The IT sector is also seen slowing down today after several days of the boom.

Even today, there is a rise in bank shares. The Indian rupee today opened with a slight decline at 80.01, on Wednesday it had closed at 79.98 against the dollar.

Share Market Update: Crude oil.

Crude oil is also trading in the red mark today but it still remains above $106. Crude has been hovering around $105 per barrel for the last two days.

Last week crude had gone below $ 100 but from there again came up.

Gold is at a one-year low.

The price of gold has fallen on Thursday to its lowest level in almost a year. The prospect of a further hike in interest rates by major central banks to tackle rising inflation has affected gold.

Spot gold is trading 0.3% down at $ 1,691.84 an ounce. At the beginning of August 2021, it was around $ 1,689.40. US gold futures fell 0.6% to $ 1,690.40 an ounce.

Foreign investors buying.

After a long period of continuous selling, foreign investors have started buying once again. Yesterday on Wednesday, FPIs made purchases of more than Rs 1500 crore in cash.

This is also considered quite positive for the market sentiment. This year, FPIs have withdrawn more than 2.25 lakh crore rupees from the Indian market.