Advertisement
Tuesday, May 17, 2022
Outlook.com
Outlook.com

Sensex Rises 55 Points In Early Trade; Nifty Tops 15,860

According to provisional exchange statistics, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Monday, offloading shares worth Rs 338.43 crore.

Sensex Rises 55 Points In Early Trade; Nifty Tops 15,860
In early trade, the 30-share BSE index was trading 55.46 points, or 0.10 percent, higher at 52,935.46. | Representational Image
Sensex Rises 55 Points In Early Trade; Nifty Tops 15,860
outlookindia.com
2021-07-06T10:42:16+05:30

Equity benchmark Sensex inched higher by 55 points in early trade on Tuesday, tracking gains in index heavyweights HDFC twins, Bajaj Finance and Infosys amid sustained foreign fund outflows.

The 30-share BSE index was trading 55.46 points or 0.10 percent higher at 52,935.46 in initial deals. Similarly, the broader NSE Nifty advanced 24.05 points or 0.15 percent to 15,858.40.

UltraTech Cement was the top gainer in the Sensex pack, rising 0.69 percent, followed by HDFC Bank, Maruti, Tata Steel, Titan, and Bajaj Auto, HDFC, M&M, L&T, and Bajaj Finance. Infosys was up 0.06 percent in early deals.

On the other hand, Sun Pharma, TCS, HUL, and Reliance Industries were among the laggards.

In the previous session, the BSE Sensex closed 395.33 points or 0.75 percent higher at 52,880. Similarly, the broader NSE Nifty surged 112.15 points or 0.71 percent to 15,834.35.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 338.43 crore on Monday, as per provisional exchange data.

"Domestic equities look to be muted as of now. Notably, a sharp rise in crude prices and a strengthening dollar index weighed on sentiments in the last couple of days. Further, expectations of further rise in crude prices with no agreement on ease of production in the OPEC meeting can weigh on sentiments further," said Binod Modi Head-Strategy at Reliance Securities.

However, we continue to believe any meaningful correction in the market should be offering the opportunity to investors to get in quality stocks, Modi said.

Meanwhile, international oil benchmark Brent crude surged 0.32 percent to USD 77.41 per barrel.

Elsewhere in Asia, bourses in Seoul and Tokyo gained, while Shanghai and Hong Kong were trading in the red in mid-session deals.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement