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 Cardiff Star.

More Information

null in null

United Kingdom

Section

Faulty IT system at heart of UK Post Office scandal, says report

LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...

Ex-UK PM Sunak takes advisory role at Goldman Sachs

NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...

Lord's Test poised for dramatic conclusion as India face stiff challenge on Day 5

London [UK], July 14 (ANI): The third Test of the five-match series at Lord's between England and India is evenly poised after the...

Preity Zinta enjoys Wimbledon final with husband Gene Goodenough in London, says "What a fun weekend"

London [UK], July 14 (ANI): Actor Preity Zinta and her husband Gene Goodenough enjoyed the Wimbledon final in London on Sunday. Taking...

Aditi finishes T-28 as Australian Grace Kim wins Evian golf title

Aix-les-Bains [France], July 14 (ANI): Aditi Ashok had a weak final round as she shot 73 in the final round at the Amundi Evian Championship....

Economic Watch: Heatwaves fuel unprecedented air conditioner demand in Europe, powering Chinese export

According to the China Household Electrical Appliances Association, exports of air conditioners to the EU and Britain totaled 1.39...

International

Section