Indian Stock Markets See Marginal Rise Amid Global Uncertainty

Indian Stock Markets See Marginal Rise Amid Global Uncertainty

VoM News Desk | September 25, 2023 | 11:26 PM IST | Breaking News | Follow on Google News

Indian Stock Markets See Marginal Rise Amid Global Uncertainty

Mumbai: Indian stock markets experienced marginal gains on Monday, as global uncertainties weighed on investor sentiment. While financials, consumer durables, realty, and banking shares posted gains, losses were observed in the IT, oil & gas, and pharma sectors.

Foreign institutional investors (FIIs) sold shares of Indian companies worth Rs 10,843.68 crore and purchased stocks worth ₹8,510.65 crore, resulting in a net outflow of ₹2,333.03 crore, according to NSE data. On the previous trading day, FIIs had offloaded equities worth ₹1,326.74 crore. Meanwhile, domestic institutional investors (DIIs) bought equities worth ₹8,621.77 crore and sold shares worth ₹7,042.49 crore, leading to a net inflow of ₹1,579.28 crore, as reported by the exchange data.

The 30-share BSE Sensex initially rose by 461.6 points during the session but ultimately closed up by 14.54 points, or 0.02%, at 66,023.69. Throughout the day, it recorded a high of 66,225.63 and a low of 65,764.03. Among the sectoral indices, realty gained 1.56%, financial services climbed 0.46%, consumer durables increased by 0.43%, bankex was up 0.29%, and commodities rose 0.23%. The broader NSE Nifty ended marginally higher by 0.30 points at 19,674.55.

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Market Movers and Shakers

Bajaj Finance saw the most significant surge among BSE Sensex firms, rising by 4.64%. Other major gainers included Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, ICICI Bank, NTPC, JSW Steel, and Tata Steel. On the downside, companies such as Infosys, Mahindra & Mahindra, Wipro, Tata Consultancy Services, IndusInd Bank, and HCL Technologies faced losses.

Rupee’s Movement and Forex Reserves

The Indian rupee weakened by 20 paise to close at 83.14 against the US dollar on Monday. This depreciation was attributed to rising crude oil prices and the strength of the US dollar against major global currencies. The rupee began trading at 83.04 and fluctuated between a high of 83.04 and a low of 83.15 against the US dollar.

Additionally, India’s foreign exchange reserves decreased by $867 million to reach $593.037 billion in the week ended September 15, as reported by the Reserve Bank of India on Friday.

The uncertain global economic environment continues to influence Indian markets, with investors closely monitoring international developments and their potential impact on the domestic economy.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.