ANI
23 Jan 2023, 22:18 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 Knoxville Times 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 Knoxville Times.
More InformationTOKYO, Japan: In a statement posted on the website of the Chinese Embassy in Tokyo, Beijing announced that it will ...
NEW YORK, New York - The U.S. dollar crumbled on Thursday after first posting gains. The late afternoon sell off ...
NEW YORK, New York - Wall Street dove into the red Wednesday after the U.S. Federal Reserve Open Market Committee ...
WASHINGTON D.C.: In the latest indication that its interest rate hikes are slowing the US economy, the Federal Reserve's main ...
BEIJING, China: As COVID-19 restrictions and a slowing economy curbed consumer demand in 2022, China's smartphone sales witnessed a record ...
TOKYO, Japan: After struggling for years to promote its products amid protests from conservationists, Japanese whaling company Kyodo Senpaku announced ...
TEHRAN, Iran: A gunman this week stormed the Azerbaijan Embassy in the Iranian capital, Tehran, and killed its security chief ...
WASHINGTON, DC - FBI agents on Wednesday searched for classified documents at U.S. President Joe Biden's vacation retreat in the ...
WASHINGTON D.C.: The White House said this week that Tesla Chief Executive Elon Musk met with John Podesta, a Democratic ...
MANILA, Philippines: In an effort to attract more tourists, President Ferdinand Marcos has approved a value-added tax refund program for ...
TRIPOLI, Libya: Italian prime minister Giorgia Meloni held talks on energy and migration in Libya this weekend, which are major ...
MIAMI, Florida: This decade, the US south is expected to see more new residents than any other region in the ...