Are Sensex and Nifty Trading Higher Due to Sustained Foreign Inflows?
Synopsis
Key Takeaways
Mumbai, Feb 10 (NationPress) The Indian stock market experienced moderate gains early on Tuesday, influenced by robust global signals and persistent foreign investments.
At 9:28 AM, the Sensex increased by 182 points, representing a rise of 0.22 percent, reaching 84,247, while the Nifty was up by 50 points or 0.19 percent, settling at 25,917.
The main broad-cap indices performed similarly to the benchmark indices, with the Nifty Midcap 100 up by 0.20 percent, and the Nifty Smallcap 100 increasing by 0.58 percent.
All sectoral indices were in the positive territory. The most notable gainers included the Nifty consumer durables, which rose by 0.85 percent, realty at 0.55 percent, and metals at 0.53 percent. ONGC was highlighted as one of the top gainers.
Market analysts indicated that the immediate support for Nifty is located in the 25,500-25,700 range, while resistance is identified in the 26,000-26,100 range.
Experts noted that the improved sentiment surrounding new foreign inflows, strength in the US markets, and optimism regarding the interim India-US trade framework are providing short-term support.
In the Asian markets, China's Shanghai index declined by 0.02 percent, and Shenzhen fell by 0.02 percent, while Japan's Nikkei surged by 2.49 percent and Hong Kong's Hang Seng index increased by 0.6 percent. South Korea's Kospi saw a modest gain of 0.14 percent.
The US markets concluded in the positive during the last trading session, with Nasdaq up by 0.9 percent. The S&P 500 added 0.47 percent, and the Dow Jones increased by 0.04 percent.
On February 9, foreign institutional investors (FIIs) net bought equities worth Rs 2,255 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 4 crore.
Additionally, the Indian stock market witnessed significant gains on Monday, propelled by the announcement of an interim framework for the India–US trade agreement. At the close, the Sensex had risen by 485 points or 0.58 percent, reaching 84,065, while the Nifty surged by 173 points or 0.68 percent, finishing at 25,867.
aar/na