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 Barbados Bulletin.

More Information

null in null

World

Section

US debt limit raised, but spending bill fuels fiscal concerns

NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...

Daily World Briefing, July 11

UN humanitarians say first fuel in 130 days allowed into Gaza but much more needed The first batch of fuel in more than four months...

Pakistan PM's aide Rana Sanaullah rejects reports of growing rift with PPP

Islamabad [Pakistan], July 11 (ANI): Pakistan Prime Minister's Adviser on Public and Political Affairs, Rana Sanaullah, has rejected...

"This doesn't happen in democracy": Imran Khan's ex-wife slams govt over threat to arrest her sons

Islamabad [Pakistan], July 11 (ANI): Former Pakistan Prime Minister Imran Khan's ex-wife, Jemima Goldsmith, has accused the government...

"Do not travel to Iran": US State Department warns Americans of travel risks

Washington, DC [US], July 11 (ANI): The US State Department has announced a new awareness campaign warning Americans, particularly...

Pakistan: ANP leader, police personnel shot dead in Khyber Pakhtunkhwa

Khyber Pakhtunkhwa [Pakistan], July 11 (ANI): Awami National Party (ANP) leader Maulana Khan Zeb and a police personnel were shot dead...

Caribbean

Section