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)Get a daily dose of Japan Herald 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 Japan Herald.
More InformationThe Australian Federal Police (AFP) are appealing to the public for assistance in locating Michael Connors, a 25-year-old Irish national...
ABOARD AIR FORCE ONE/TOKYO: U.S. President Donald Trump reaffirmed his opposition to a foreign takeover of U.S. Steel, casting renewed...
HONG KONG: Hong Kong's last major opposition party has begun the process of dissolving, a symbolic end to decades of pro-democracy...
TOKYO, Japan: As Japan prepares for critical trade talks with the United States, a top policymaker has stressed the need to strengthen...
BERLIN, Germany: Talks between the EU and China could pave the way for a shift from tariffs to minimum price agreements on Chinese...
BEIJING, China: Tesla has halted new orders in China for its two U.S.-made premium models as trade tensions between Washington and...
NEW YORK, New York - U.S. stocks were volatile again Friday as President Donald Trump blasted Federal Reserve chair Jerome Powell for...
BRUSSELS, Belgium - The Europesn Central Bank has slashed official interest rates in the wake of the financial crisis triggered by...
BISMARCK, North Dakota: Federal officials have ordered the company running the Keystone Pipeline to take several safety steps after...
GANAPAVARAM, India/GUAYAQUIL, Ecuador: India's shrimp exporters are facing mounting uncertainty as new U.S. tariffs threaten to disrupt...
NEW YORK, New York - Technology stocks fell sharply Wednesday, dragging down the industrial sector in its wake, as Donald Trump's trade...
ABOARD AIR FORCE ONE/TOKYO: U.S. President Donald Trump reaffirmed his opposition to a foreign takeover of U.S. Steel, casting renewed...