Indian equity benchmark indices Sensex and Nifty witnessed a sharp decline in early trade on Monday, impacted by weak trends in US markets, sustained selling by Foreign Institutional Investors (FIIs), and concerns over global trade tensions, particularly regarding US tariffs. As per PTI reports, the 30-share BSE Sensex plunged 567.62 points, falling below the crucial 75,000 mark to settle at 74,743.44. Similarly, the NSE Nifty dropped 188.4 points, trading at 22,607.50 in the opening session. According to PTI, stocks from the Sensex pack that recorded the most significant losses included HCL Tech, IndusInd Bank, Zomato, Tech Mahindra, Tata Consultancy Services, ICICI Bank, HDFC Bank, and Power Grid. However, Maruti Suzuki and Mahindra & Mahindra emerged as the only gainers in the early session. The market downturn follows continued heavy outflows by foreign investors. On Friday, FIIs offloaded equities worth Rs 3,449.15 crore, as per exchange data. PTI reports that foreign investors have withdrawn over Rs 23,710 crore from Indian equity markets so far in February, bringing the total outflows beyond Rs 1 lakh crore in 2025. The selling pressure is attributed to growing global trade tensions, especially concerns over the tariff policies of former US President Donald Trump, who is a key contender in the upcoming elections. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, "The market is facing headwinds from relentless FII selling and global uncertainties relating to Trump tariffs. Additionally, the sharp surge in Chinese stocks presents another near-term challenge. In the US, long-term inflation expectations are rising, making it unlikely for the Federal Reserve to implement the expected rate cut." PTI reports that major Asian markets, including Seoul, Shanghai, and Hong Kong, were trading lower, mirroring the weak sentiment from Wall Street, where US markets closed significantly lower on Friday. Global oil prices also continued their decline, with the benchmark Brent crude slipping 2.13 per cent to USD 74.43 per barrel, further weighing on investor sentiment. "As we advance, continued foreign fund outflows and concerns over US President Donald Trump’s tariff stance in his potential second term may keep investors on edge in a holiday-shortened week," said Ameya Ranadive, Chartered Market Technician, CFTe, and Senior Technical Analyst at StoxBox. On Friday, the Sensex had already logged its fourth consecutive session of decline, losing 424.90 points or 0.56 per cent to close at 75,311.06, while the Nifty fell 117.25 points or 0.51 per cent to settle at 22,795.90. (With inputs from PTI)
24 February,2025 10:47 AM IST | MumbaiBenchmark indices Sensex and Nifty opened on a weak note on Tuesday, as sustained foreign fund outflows continued to dampen investor sentiment, PTI reports. After a brief respite in the previous session, the 30-share BSE benchmark Sensex fell by 201.44 points, reaching 75,795.42 in early trade. Similarly, the NSE Nifty dropped 82.65 points, settling at 22,876.85, as per PTI. Among the major laggards from the Sensex pack were Tata Steel, NTPC, IndusInd Bank, State Bank of India, UltraTech Cement, and Tata Motors. On the other hand, Tech Mahindra, Maruti, Infosys, HCL Tech, and Tata Consultancy Services were among the gainers in the early session, PTI reports. According to exchange data, Foreign Institutional Investors (FIIs) continued to offload equities, selling shares worth ₹3,937.83 crore on Monday. The ongoing selling pressure from FIIs has contributed to the market's downward trajectory, as per PTI. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that despite Monday’s mild recovery, market sentiment remains weak. "The market construct doesn’t favour a rally at this point. FIIs are likely to continue selling, and overall news flows are not positive," he stated. Despite the weak performance in the domestic market, key Asian markets were trading in the green. Seoul, Tokyo, Shanghai, and Hong Kong all registered gains in early trade, PTI reports. Meanwhile, US markets remained closed on Monday in observance of 'President’s Day', which limited global trading activity. In the commodities market, the global oil benchmark Brent crude saw a slight uptick of 0.24 per cent, reaching USD 75.40 per barrel. On Monday, fag-end buying helped the Sensex snap its eight-day losing streak, with the index rising 57.65 points or 0.08 per cent to close at 75,996.86. The Nifty also recovered 30.25 points or 0.13 per cent to settle at 22,959.50, as per PTI. As investors continue to assess market conditions, attention remains on foreign fund movements, corporate earnings, and global economic trends that could influence further market direction. (With inputs from PTI)
18 February,2025 11:08 AM IST | MumbaiIndian equity markets opened on a positive note on Friday, with the Sensex gaining over 250 points to commence trading at 76,388.99, while the Nifty 50 began at 23,096.45. This comes despite mixed global signals and follows a weak closing session on Thursday, marking seven consecutive days of decline in the domestic markets. According to ANI, investor sentiment remains cautious due to international developments, particularly in the United States. Market expert Ajay Bagga observed that although US President Donald Trump has announced reciprocal tariffs on all trade partner nations to take effect by April 2, 2025, US markets still managed to close higher. He noted that investors are optimistic most trade disputes will be resolved in the next 40 days, mitigating the risk of severe disruptions. Bagga further remarked that, much like the Union Budget and the RBI’s recent monetary policy decision to cut rates, Prime Minister Narendra Modi’s visit to the United States is having an overall positive impact on India’s economy and markets. However, he pointed out that foreign portfolio investor (FPI) outflows continue to influence short-term market movements. As per ANI, market analysts are keeping a close watch on Nifty’s technical indicators. Varun Aggarwal, Managing Director of Ideaprofit, stated that while the short-term trend for Nifty remains positive, it faces a crucial resistance level at 23,250. A breakout above this could indicate a potential trend reversal, whereas immediate support is seen at 22,800. Aggarwal further added that Nifty’s open interest (OI) data suggests significant call OI at 23,100 and the highest put OI at 23,000, reflecting resistance at the upper level. On Thursday, Nifty formed a gravestone doji pattern, highlighting market indecision, yet it managed to sustain the 23,000 level, aligning with the 78.6% Fibonacci retracement. The MACD remains negative, indicating a continued downside bias, while momentum indicators show an oversold condition, hinting at a possible rebound. ANI reports that Asian markets followed Wall Street’s positive trend on Friday, trading higher after President Trump outlined his tariff policy roadmap. Meanwhile, India-US relations continue to strengthen, with ambitious plans to enhance defence ties and increase bilateral trade to USD 500 billion by 2030. During the early hours of trading, major gainers on the National Stock Exchange (NSE) included Hindalco, Tata Steel, JSW Steel, IndusInd Bank, and Shriram Finance. Conversely, Adani Enterprises, Dr Reddy’s Laboratories, Kotak Mahindra Bank, Sun Pharma, and Apollo Hospitals were among the early losers. As per ANI, the market outlook remains cautiously optimistic, with global developments, technical indicators, and investor sentiment playing a crucial role in determining further movement.
14 February,2025 10:12 AM IST | MumbaiIndian stock markets opened flat on Thursday, reversing the selling trend witnessed earlier on Wednesday, as the markets are in a wait-and-watch mode on PM Modi's US visit. The Nifty 50 index opened at 23,055.75 points with a gain of 10.50 points or 0.05 per cent, while the BSE Sensex index opened at 76,201.10 with a gain of 30.02 points or 0.04 per cent. In the sectoral indices on NSE, except Nifty Bank, Nifty FMCG, and Nifty Metal, all other indices opened with marginal gains. Experts noted that the markets are waiting for any trade outcome from PM Modi's US visit, and the Trump-Putin conversation over the phone has helped to improve sentiment. However, Indian markets remain under pressure due to sustained FII selling. Ajay Bagga Banking and Market Expert told ANI "Prime Minister Modi arrived in the US after a successful France trip. His meetings with President Trump are expected to lead to agreements on trade, energy, and defence and boost bilateral relations. Indian markets are still under pressure due to sustained FPI selling which is not abating. However, a Russian-Ukraine peace deal that is imminent, will lead to increased oil and gas supplies, lower prices and a better global sentiment. Indian markets remain in a wait-and-watch mode for the Modi-Trump summit outcomes and on Ukraine-Russia Munich conference outcomes". In the Nifty 50 stocks list, 28 stocks opened with gains, while 21 stocks declined in the opening session, with one remaining unchanged. CIPLA and Kotak Bank emerged as the top gainers in Nifty 50, while Titan and Eicher Motors opened as the top losers. The shares of Kotak Bank surged after the Reserve Bank lifted all restrictions it had placed on Kotak Mahindra Bank on April 24 last year, allowing it to onboard new customers through its online and mobile banking channels and issue fresh credit cards. "The nifty ended down for the sixth day but not before the opening slump was aggressively bought around the 22800 area, where the COVID-era rising trendline is passing through. The day's candle exhibited a long lower shadow, which clearly shows the presence of strong buyers in the 22700 - 22800 zone. This will remain pivotal support going forward, with resistance coming into play inside the 23155 to 23293 area" said Akshay Chinchalkar, Head of Research, Axis Securities. In the financial results today, Hindalco Industries, United Breweries, Ipca Laboratories, SJVN, Deepak Nitrite, Godfrey Phillips India, ITI, Concord Biotech, Carborundum Universal, Grindwell Norton, KIOCL, and Afcons Infrastructure are some of the major companies set to announce their third-quarter results. Other Asian markets also rallied on Thursday, with Japan's Nikkei surging more than 1.3 per cent, Hang Seng of Hong Kong up by 1 per cent, Taiwan Weighted gaining 0.36 per cent, and South Korea's KOSPI jumping 0.86 per cent, while Singapore's market remained under pressure with a dip of 0.05 per cent. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
13 February,2025 10:30 AM IST | Mumbai | ANIIndian stock markets opened on a flat note in a special Saturday trading session, as investors awaited the upcoming Budget presentation. The Nifty 50 index saw a marginal gain, opening at 23,528.60, up by 20.20 points or 0.09 per cent, while the BSE Sensex opened at 77,637.01, increasing by 136.44 points or 0.18 per cent. As per ANI reports, market experts attributed the muted opening to the recent tariff proposal from former US President Donald Trump, which had a dampening effect on the market sentiment surrounding the Budget. Trump's plan to impose a 25 per cent tariff on Canada and Mexico, alongside a 10 per cent tariff on China, led to a cautious outlook from investors. With the Budget just around the corner, market participants are keeping a close eye on any potential negative announcements that could adversely affect market performance. Banking and market expert Ajay Bagga shared his perspective with ANI, saying, "Trump tariffs announced. Trump will levy 25 per cent on Canada and Mexico, 10 per cent on China. Today. Deal with that, markets! US markets were up until this announcement and then eased off. India will look at key parts of the Budget. From deep skepticism, markets being perennial optimists have become cautiously sanguine. Stage set for disappointment? Possibly." Sectoral indices showed mixed movements, with most opening in the green, except for the Nifty Private Bank and Nifty Oil & Gas sectors. The Nifty Consumer Durables index stood out as the top gainer among the sectoral indices. According to ANI, at the time of filing, 27 stocks in the Nifty 50 index were trading in positive territory, while 24 stocks remained in the red. Analysts are monitoring how the Budget will influence market sentiment, with a focus on key aspects such as tax policies, fiscal measures, and government spending. Akshay Chinchalkar, Head of Research at Axis Securities, commented on the recent market performance, noting, "The Nifty finished higher for the fourth consecutive day yesterday, a streak not seen since December 4th. In doing so, we also managed a close above the 10th January breakdown area, which marks a positive start for bulls looking to extend the rebound. However, overhead resistance remains significant, with the next key hurdle appearing around the 23,632 mark, followed by the critical range of 23,763 - 23,811. Immediate support is seen in the 23,339 - 23,387 range, followed by 23,109. Given that it is Budget day, the ranges are wider than usual." As per ANI, several major companies are expected to announce their Q3 results today. Notable names include Anant Raj, Vinati Organics, Aarti Industries, G R Infraprojects, Jaiprakash Power Ventures, Neogen Chemicals, Ganesha Ecosphere, Windsor Machines, Finkurve Financial Services, Apex Frozen Foods, Bhageria Industries, Prevest Denpro, and Kore Digital. Investors will continue to watch developments closely, as the Budget presentation and the broader global economic landscape remain pivotal in shaping market movements in the near term.
01 February,2025 10:04 AM IST | MumbaiIndian stock markets witnessed a sharp downturn on Monday, with the benchmark indices Sensex and Nifty both plunging by over 1.5%, primarily due to a broad-based selloff. The drop in the indices was driven by rising concerns over third-quarter earnings growth, coupled with sustained foreign fund outflows, which dampened investors’ risk appetite. Adding to the market woes were fears surrounding the new HMPV virus, the depreciation of the rupee, and weak trends across Asian markets, all of which contributed to the overall negative sentiment. The 30-share BSE Sensex sank 1,258.12 points, or 1.59%, to settle at 77,964.99, closing below the 78,000 mark. At one point during the day, the index plunged even further, down 1,441.49 points, or 1.81%, to 77,781.62. Similarly, the NSE Nifty fell 388.70 points, or 1.62%, to end the day at 23,616.05. Among the prominent stocks in the Sensex pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra, and Reliance Industries were among the major laggards, leading the market decline. However, Titan and Sun Pharma were the only two stocks that managed to close in the green. Experts attributed the steep fall to multiple factors, including the rise in Foreign Institutional Investor (FII) selling, which amounted to Rs 4,227.25 crore on Friday. Santosh Meena, Head of Research at Swastika Investmart, stated, “The Indian equity markets are experiencing a sharp decline today, with both the Nifty and Bank Nifty slipping below their 200-day moving averages. This sell-off is largely due to growing concerns over the upcoming Q3 earnings season, alongside heightened fears related to the new HMPV virus.” Asian markets also faced a mixed session, with Seoul closing higher, while Tokyo, Shanghai, and Hong Kong ended in the red. European markets traded in a mixed fashion, while US markets had ended positively on Friday. Meanwhile, global oil prices witnessed a slight dip, with the Brent crude benchmark slipping by 0.25% to $76.32 per barrel. On Friday, the BSE Sensex had already experienced a decline of 720.60 points, or 0.90%, closing at 79,223.11, while the Nifty had dropped 183.90 points, or 0.76%, to end at 24,004.75. PTI reports indicate that the market continues to grapple with volatility, and concerns over the economic outlook are expected to remain a key focus in the coming days. (With inputs from PTI)
06 January,2025 04:30 PM IST | MumbaiThe Indian equity markets surged in early trade on Thursday, with buying activity in IT and banking stocks driving the benchmark indices higher. The BSE Sensex, which tracks 30 blue-chip stocks, rose by 242.95 points to reach 78,750.36 in the initial hours of trading. Similarly, the NSE Nifty also saw an uptick, gaining 69.25 points to trade at 23,812.15. Key stocks driving the market’s growth included large-cap IT and banking companies, such as Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, Infosys, HCL Tech, Tech Mahindra, Mahindra & Mahindra, and Tata Consultancy Services. Despite the overall market positivity, certain stocks were under pressure. NTPC, Sun Pharma, Asian Paints, and Adani Ports were among the notable laggards in the early session. As per the latest data from the Goods and Services Tax (GST) collection, India's gross GST revenue rose by 7.3 per cent year-on-year in December, touching Rs 1.77 lakh crore. This comes despite a notable rise in both domestic and export refunds during the same period. This revenue growth is seen as a positive sign for the economy and the markets, helping to support investor sentiment. In the Asian markets, however, trading was subdued. Major Asian indices such as Seoul, Shanghai, and Hong Kong were seen trading lower during the morning session, reflecting broader global market sentiment. Notably, US markets remained closed on Wednesday for the New Year holiday, contributing to lighter trading volumes. Foreign Institutional Investors (FIIs) continued their trend of profit booking, offloading equities worth Rs 1,782.71 crore on Wednesday, according to exchange data. This selling activity from FIIs could weigh on market sentiment in the coming days. Meanwhile, the global oil market remained firm, with Brent crude, the global oil benchmark, rising by 0.44 per cent to USD 74.97 per barrel in futures trade. This uptick in oil prices, despite global market volatility, may provide some support to energy-related stocks and sectors in India. Yesterday, on the first trading day of the year, the Sensex gained 368.40 points, or 0.47 per cent, to close at 78,507.41. The Nifty also ended higher, gaining 98.10 points, or 0.41 per cent, to settle at 23,742.90, setting a positive tone for the markets as they begin 2025. PTI reports indicate that while the market is buoyant in the early trade, investor attention will remain on global cues, the evolving GST collection data, and the movement of oil prices to gauge the market’s direction in the days ahead. (With inputs from PTI)
02 January,2025 10:09 AM IST | MumbaiThe Indian rupee witnessed a drop of 11 paise, falling to 85.75 against the US dollar in early trading on Thursday, primarily due to a strong dollar index and higher US 10-year bond yields.Forex traders attributed the rupee's decline to the sustained upward momentum of the dollar, which has strengthened against most global currencies throughout 2024 and continues to maintain a solid position into the new year. Additionally, ongoing foreign fund outflows have further dampened investor sentiment, adding pressure on the local currency. Global markets are expected to see low trading volumes in the near term, as major economies such as the UK and Europe are still in the holiday season. At the interbank foreign exchange, the rupee initially opened at 85.69 but slipped further to 85.75 against the greenback, marking an 11-paise drop compared to its previous close. On Wednesday, the rupee ended almost unchanged at 85.64 against the dollar. The Indian currency reached its lifetime intraday low of 85.80 on December 27 against the US dollar, raising concerns about the strength of the rupee. Meanwhile, the dollar index, which measures the US dollar's performance against a basket of six major currencies, stood at 108.32, down by 0.15 percent. This index has remained well-supported, hovering around the 108 mark for the last few sessions. Looking ahead, market experts are focusing on the potential impact of policies by US President Donald Trump, which could spur economic growth but also lead to higher price pressures. This scenario might prompt the US Federal Reserve to hold off on cutting interest rates for an extended period, according to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "Today, the rupee is expected to trade within a range of 85.50 to 85.80, with attention on liquidity positions as near-term premiums remain elevated," Bhansali noted. Brent crude, the global oil benchmark, was trading 0.44 percent higher at USD 74.97 per barrel in futures trade. On the domestic front, the 30-share BSE Sensex rose by 270.48 points, or 0.34 percent, to 78,777.89 points in early trade, while the Nifty gained 85.15 points, or 0.36 percent, to 23,828.05 points. Foreign Institutional Investors (FIIs) continued to be net sellers, offloading Rs 1,782.71 crore in the capital markets on Wednesday, according to exchange data. On the macroeconomic front, the Goods and Services Tax (GST) revenue for December rose by 7.3 percent, totalling Rs 1.77 lakh crore, compared to Rs 1.65 lakh crore in the same period last year. However, November's GST collection had been higher, standing at Rs 1.82 lakh crore, reflecting an 8.5 percent annual growth. The highest-ever GST collection was recorded in April 2024, at over Rs 2.10 lakh crore. (With inputs from PTI)
02 January,2025 09:58 AM IST | MumbaiIndian benchmark indices Sensex and Nifty opened lower on Wednesday, marking the first trading session of 2025. The downturn in the markets comes as persistent foreign fund outflows continue to negatively impact investor sentiment. Additionally, market participants remain cautious as they await the start of the earnings season next week. The 30-share BSE benchmark Sensex saw a decline of 171.81 points, settling at 77,967.20 despite a positive start to the trading session. Meanwhile, the NSE Nifty fell by 46.4 points to 23,598.40 after a muted opening. Among the 30 stocks listed on the Sensex, key laggards included ICICI Bank, UltraTech Cement, Adani Ports, Tata Steel, Axis Bank, Maruti, and Kotak Mahindra Bank. On the other hand, stocks such as Asian Paints, Larsen & Toubro, Bajaj Finance, Infosys, HCL Tech, and Bajaj Finserv witnessed gains. According to exchange data, Foreign Institutional Investors (FIIs) continued to offload equities worth Rs 4,645.22 crore on Tuesday, further weighing on market sentiment. Commenting on the market outlook, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “The New Year begins on a somber note for the Indian equity market. The near-term trend appears weak, with macroeconomic conditions dominated by sluggish GDP growth and earnings. Headwinds such as a strong dollar and high US bond yields are likely to affect the market through continued FII selling, at least in the early days of 2025. While DII buying may counterbalance FII selling, the current sentiment leans towards FIIs, as valuations remain high and growth and earnings have yet to show signs of recovery.” In global markets, US stocks ended lower on Tuesday, continuing a negative trend. Meanwhile, the global oil benchmark, Brent crude, gained 0.88 percent, rising to USD 74.64 per barrel. On Tuesday, the Sensex had dropped by 109.12 points, or 0.14 percent, to close at 78,139.01. The Nifty fell marginally by 0.10 points, settling at 23,644.80. Despite these early losses, 2024 saw positive growth overall, with the Sensex climbing 5,898.75 points, or 8.16 percent, and the Nifty rising by 1,913.4 points, or 8.80 percent, throughout the year. As per PTI reports, investors are awaiting more data to understand whether the market will recover or continue to be under pressure from these ongoing challenges. 9With inputs from PTI)
01 January,2025 11:01 AM IST | MumbaiThe Indian rupee fell by 5 paise to 85.69 against the US dollar in early trade on Wednesday, marking the first trading session of the year. The decline came as the American currency strengthened in global markets, coupled with persistent outflows of foreign funds, which pressured the rupee lower. Forex traders noted that the rise in the US dollar index (DXY) and the upward movement in US 10-year bond yields were contributing factors. These trends are largely attributed to the Federal Reserve's cautious stance, along with external factors such as the "Trump factor," influencing global market sentiments. The impact of these factors was felt as global trading volumes remained subdued due to the ongoing holiday season in major economies, including the UK and parts of Europe. At the interbank foreign exchange market, the rupee opened at 85.63 before slipping further to 85.69 against the greenback, reflecting a 5-paise dip compared to its previous close. On Tuesday, the rupee had depreciated by 12 paise, settling at a record all-time closing low of 85.64 against the US dollar. On December 27, the currency had hit its lifetime intraday low of 85.80. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, mentioned that the Reserve Bank of India (RBI) had supported the rupee at the 85.6450 level on Tuesday. He also highlighted that with US markets closed on Wednesday, there would be limited cash dollar demand, making a lower opening for the USD/INR an opportunity for importers to buy dollars for their payables. Bhansali suggested that the day’s trading range for the rupee could be between 85.40 and 85.70. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was recorded at 104.48. In global commodity markets, Brent crude futures were priced at USD 74.64 per barrel. On the domestic equity front, the 30-share BSE Sensex was trading lower by 127.91 points, or 0.16 per cent, at 78,011.10 points, while the Nifty dropped by 36.30 points, or 0.15 per cent, to 23,608.50 points. Foreign Institutional Investors (FIIs) were also active in the capital markets, offloading Rs 4,645.22 crore on a net basis on Tuesday, as per exchange data. On the economic front, the Centre’s fiscal deficit for the first eight months of the fiscal year 2024-25 reached 52.5 per cent of the full-year target, with the fiscal deficit standing at approximately Rs 8.47 lakh crore during the April-November period, according to data from the Controller General of Accounts (CGA).
01 January,2025 10:53 AM IST | MumbaiIndian stock markets opened on a positive note today, buoyed by optimism about a potential year-end rally. The Nifty 50 index opened at 23,801.40, gaining 51.20 points, or 0.22 per cent, while the BSE Sensex rose 135 points, or 0.17 per cent, to reach 78,607.58 points at the start of the trading session. Market experts have observed that, despite today's gains, the markets have struggled to sustain their rally in previous sessions, with foreign investors contributing to selling pressure. This trend is expected to persist until stronger earnings signals emerge. Akshay Chinchalkar, Head of Research at Axis Securities, noted, "The Nifty could not sustain its opening advance for the third straight day, as the market failed to break above the 200-day average. Support is seen between 23,500 and 23,640. A daily close above 24,150 is required to overcome the current nervousness." Sectoral performance at the NSE showed Nifty Auto leading with a surge of more than 1 per cent, while other indices also posted gains in the early session. Of the Nifty 50 stocks, 41 saw positive movement at the time of reporting, with only 9 declining. Among the top gainers were Bajaj Auto, Trent, IndusInd Bank, and Tata Motors, while Apollo Hospital, HCL Tech, TCS, and CIPLA were among the top losers in the opening session. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the ongoing market volatility, stating, "Short-term bumps on the economic growth path are causing corrections and market fluctuations. The biggest challenge for the market is FII selling, driven by a strong dollar and attractive US bond yields. A shift from FII selling to buying will occur once macro indicators point towards a recovery in growth and corporate earnings." As the nation pays tribute to Manmohan Singh, the architect of India's liberalisation, investors may reflect on the wealth created by the Indian stock market since liberalisation began in 1991. Asian markets also displayed mixed results: Japan’s Nikkei 225 index climbed 1.45 per cent, Hong Kong’s Hang Seng rose by 0.03 per cent, while Taiwan’s Weighted index gained 0.12 per cent. South Korea's KOSPI index, however, fell by 1.43 per cent. (With inputs from ANI)
27 December,2024 09:51 AM IST | MumbaiADVERTISEMENT
