Nifty holds flat at open despite Wall Street gains; FII selling streak hits 11 sessions
Nifty 50 opened at 22,593.20 against a previous close of 22,520.45, and was trading near 22,525.60 at 9.25 am; Sensex opened at 72,771.32 against its previous close of 72,472.33, before slipping to 72,426.28
The Nifty and Sensex opened flat on Monday despite gains on Wall Street, with the Nifty 50 settling at 22,593.20 and the Sensex at 72,771.32. The indices had broken an eight-week losing streak the previous week, with the Nifty up 0.44% and the Sensex up 562 points over five days. Major gainers included Bajaj Auto, BSE, Mahindra & Mahindra, Bharat Electronics, and Dr. Reddy’s Laboratories.
Among the losers, Tech Mahindra, ITC, Axis Bank, Bharti Airtel, and State Bank of India saw declines. Foreign institutional investors extended their selling streak to 11 consecutive sessions, with net sales of ₹3,568 crore on October 9. Weekly FII outflows stood at ₹35,556 crore, while domestic institutional investors continued to absorb the selling pressure with net purchases of approximately ₹4,743 crore.
Market experts attribute the cautious opening to external headwinds like elevated crude prices and high US bond yields dominating domestic tailwinds. They expect the market to open positive with GIFT Nifty at 22,635, up 32 points, and urged investors to monitor upcoming inflation data and corporate earnings.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
