Indian stocks start new week in green; Sensex, Nifty up 0.5 pc on Monday

ANI
23 Jan 2023, 17:48 GMT+10

New Delhi [India], January 23 (ANI): Indian stock markets closed Monday's trade in the green, thereby snapping a two-day losing run.

Sensex and Nifty closed 0.5 per cent higher each.

Among the Nifty sectoral indices, barring Nifty metal and Nifty realty, all traded higher with Nifty IT and Nifty pharma rising the most.

"Benchmark indices consolidated gains after a positive start on Monday. Nifty held on to the 18100 mark amid lack of follow-up buying in the second half. On the sectoral front, Nifty Auto, IT, Pharma stocks further drove the index higher. IT shares witnessed across-the-board buying," said Devarsh Vakil, Deputy Head of Retail Research, at HDFC Securities.

According to Vinod Nair, Head of Research at Geojit Financial Services: "Market breadth tilted in favour of bulls lifted by financial stocks, amid positive cues from global peers. Strong corporate earnings reported by banks boosted the appetite for financial stocks. Positive global markets owing to the possibility of a less aggressive rate hike further added colour."Despite today's rise, analysts are at large bearish over the possibility of slowing global economic growth this year and the latest pulling out of funds by foreign portfolio investors (FPIs) from Indian stocks.

Foreign portfolio investors (FPIs) have sold assets worth Rs 15,236 crore in Indian stock markets so far in 2023 (till January 20), the latest data from National Securities Depository showed.

Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.

In 2022, foreign portfolio investors overall sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the data available on the NSDL website showed. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.

More Information

null in null

Business

Section

Wall Street diverges, but techs advance Wednesday

NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...

Greenback slides amid tax bill fears, trade deal uncertainty

NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...

Taliban seeks tourism revival despite safety, rights concerns

KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...

Nvidia execs sell $1 billion in stock as AI boom drives record prices

SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...

Tech stocks slide, industrials surge on Wall Street

NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...

Canada-US trade talks resume after Carney rescinds tech tax

TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...

World

Section

South China Sea of "great concern" to Quad; ensuring it stays calm and free of conflict is a common priority: EAM Jaishankar

Washington DC [US], July 3 (ANI): External Affairs Minister S Jaishankar said that the South China Sea was discussed during the Quad...