The Nifty 50 rose 1.08 percent to 22,409.15 while the BSE Sensex gained 1 percent to 73,860.7 respectively, as of 10:22 AM, after initial rise of 1.9 percent in the morning.
Foreign institutional investors saw record net outflows of Rs 1.14 lakh crore in October. Yet domestic investors pumped in nearly that amount, preventing a further fall in the stock market.
Among sectors at the National Stock Exchange, Bank, Auto, Financial Services, Media, Metal, Pharma, Healthcare, Consumer Durables, and Oil and Gas opened in the green territory.
Adani Group companies experienced a decline of up to 4 percent Monday, with Adani Wilmar being the biggest loser, dropping by 4.1 percent to close at Rs 369.35.
Factors influencing the bearish trend in Indian markets include appreciation of Japanese Yen against US dollar, fears of a possible recession in US and rising geopolitical tensions.
Among the sectoral stocks Bank, Auto, Financial Services, IT, Pharma, Private Bank, Realty, and Healthcare traded in red during the initial hours of the trade.
The NSE Nifty 50 index fell by 30 points, to 24,300, while the BSE Sensex dropped 150 points to 79,841. Except Nifty 50, all other indices start trading with gain.
In the first eight months of the current fiscal year, New Delhi’s net tax intake didn’t even hit the halfway mark of what it expects to collect by March 31.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
Speaking at annual press conference, Army chief reiterated that India does not recognise 1963 Sino-Pakistan border pact under which Pakistan illegally ceded Shaksgam Valley to China.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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