ANI
05 Jul 2022, 10:07 GMT+10
New Delhi [India], July 5 (ANI): Indian stock market indices extended their gains from the previous session and traded in the green on Tuesday.
"Amid evidence of fresh infections in the second-largest economy, Asian markets ended mainly lower on Monday. However, late purchasing helped the Indian stock market to end higher (on Monday)," said Mohit Nigam, Head - PMS, Hem Securities.
At 9.25 a.m. Tuesday, Sensex traded at 53,508.32 points, up 273.55 points, up 0.51 per cent, whereas Nifty traded at 15,916.60 points, up 81.25 points or 0.51 per cent.
Among the individual stocks, Tata Motors, Power Grid Corporation of India, ONGC, Bajaj Finserv, and Adani Ports were the top five gainers among the Nifty 50 companies, while Britannia, Hero Motocorp, Bajaj Auto, Divis Labs, and ITC the top five losers, National Stock Exchange data showed.
Market volatility may be caused by the prevailing worries about the persistent selling of funds by foreign investors, Nigam said.
Foreign portfolio investors have been persistently selling equities in the Indian markets for the past nine-to-ten months due to various reasons, including tightening of monetary policy, rising current account deficit on account of depreciation of rupee, rising dollar and bond yields in the US.
They typically prefer advanced economies in times of sharp volatility and uncertainty in the overall financial markets.
So far in 2022, they have sold equities worth Rs 220,476 crore in India, NSDL data showed. During the same period, Sensex and Nifty declined around 10 per cent each.
On Tuesday, other major Asian stocks too rose amid speculations that the US administration could scrap some Trump-era tariffs on Chinese consumer goods, said Deepak Jasani, Head of Retail Research, HDFC securities. (ANI)Get a daily dose of Central Coast News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Central Coast News.
More InformationNEW YORK CITY, New York: Oil prices remained steady on June 9 as investors looked ahead to the outcome of the U.S.-China trade talks...
CHANDRAPUR/SOLAPUR (India): As India doubles down on coal to fuel its growing energy needs, an invisible crisis is surfacing: the country...
NEW YORK, New York - U.S. stock markets rose Tuesday as investors and traders anticipated a positive outcome from ongoing trade talks...
BEIJING/WASHINGTON, D.C.: In a rare move aimed at easing mounting supply chain pressure, China has issued temporary export licenses...
BERN, Switzerland: UBS faces a sweeping new capital requirement from the Swiss government, which this week proposed changes that could...
NEW YORK CITY, New York: At a Walmart Supercenter in New Jersey, buttercream borders and edible-ink cartoons aren't just about sweet...
LOS ANGELES, California: As obesity rates among American teenagers climb to historic levels, more families and doctors are cautiously...
MENLO PARK, California: As artificial intelligence demands explode, Big Tech is turning to an old source for new power: nuclear energy....
The rapper has reportedly been referred to as Ye Ye in legal documents filed in 2025 American rapper and 24-time Grammy Award winner...
by Xinhua writer Zhang Yunlong BEIJING, June 11 (Xinhua) -- After a notable box office boost over the Duanwu Festival holiday --...
Washington [US], June 11 (ANI): Actor Mark Ruffalo has been cast in the upcoming Apple Original Films feature 'Being Heumann,' directed...
Washington [US], June 11 (ANI): The creators of the hit HBO series 'The Last of Us,' Craig Mazin and Neil Druckmann, have confirmed...