Sensex, Nifty Lose Early Gains After Opening Higher On FII Buying, Strong Earnings
Indian equity markets began Monday’s session on a positive note, supported by continued foreign portfolio investor (FPI) buying and optimism over corporate earnings. The Sensex gained more than 170 points in early trade, while the Nifty 50 jumped up to 24,620. The Sensex opened at 78,501 against its previous close of 78,499. During the trade, the 30-share index jumped by 0.22% to 78,676. However,…
Indian equities commenced Monday's trading with a bullish outlook, encouraged by ongoing foreign portfolio investor (FPI) purchases and confidence in company results. The Sensex experienced a rise of over 170 points during the initial trade, while the Nifty 50 surged to 24,620. The Sensex commenced at 78,501, contrasting its prior close of 78,499.
Throughout the trading day, the 30-share index gained 0.22%, reaching 78,676. However, by 10:20 am, the index had forfeited nearly all of its early gains, trading 25 points higher than the preceding close. The Nifty 50 opened at 24,581.25 and increased by 50 points to 24,620, but also relinquished the early gains by 10:20 am.
The market showed mixed sentiment. The Nifty Midcap 50 and Midcap 100 indices climbed 0.29% and 0.22%, respectively, whereas the Nifty Smallcap 100 fell 0.11%. India VIX rose to 12.81, indicating heightened market caution. Foreign investors played a crucial role in sustaining market sentiment. FPIs invested $1.36 billion in Indian equities last week, following a $2.12 billion investment in July. The rupee opened at 95.17 against the US dollar, up from its previous rate of 95.2075.
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