ANI
23 Jan 2023, 22:18 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)
Get a daily dose of Cardiff Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cardiff Star.
More InformationLONDON, England: Flybe, a British regional airline, abruptly closed operations on January 28. The airline offered flight to Belfast, Birmingham ...
LONDON, England: Of the 14 main battle tanks and additional artillery support it will send to Ukraine, Britain hopes its ...
The Group of Seven industrialized countries agreed Friday on a price cap for refined Russian oil exports.U.S. Treasury Secretary Janet ...
The Los Angeles Thieves won two elimination-bracket matches on Friday to stay alive in the Call of Duty League Major ...
Kurt Kitayama made two late birdies to slide into the lead at the Pebble Beach Pro-Am on Friday in Pebble ...
The United States moved to the brink of advancing out of its Davis Cup qualifying series by winning both singles ...
WASHINGTON D.C.: The Biden administration has stopped issuing export licenses to US companies seeking to ship most items to China's ...
Nearly a year in, the war in Ukraine has cost tens of thousands of lives and brought the world to ...
WASHINGTON D.C.: The US House of Representatives has passed a bill that limits the ability of US Energy Secretary Jennifer ...
BOSTON, Massachusetts: Russian businessman Vladislav Klyushin, who has ties to the Kremlin, has been accused of making tens of millions ...
TOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...
DALLAS, Texas: Oil and gas pipeline operators are preparing to stockpile equipment following severe weather forecasts for the next few ...