look news india
New Delhi: There were ups and downs in the Indian stock market on Tuesday also. Initially Sensex and Nifty opened on gains. But then it reached the red mark. However, he again showed good recovery and reached the green mark again.
BSE's major 30-share index Sensex opened 128.88 points higher at 81,178.88 in early trade, while NSE Nifty opened 43.35 points higher at 24,839.10. Both the benchmark indices witnessed volatility and traded with marginal gains.
Adani Ports & Special Economic Zone, NTPC, UltraTech Cements, Hindustan Unilever, HDFC Bank, State Bank of India and Larsen & Trubow were among the gainers in the Sensex pack. Tata Steel, JSW Steel, Tata Motors, HCL Technologies and Tata Consultancy Services were left behind.
“Elevated geopolitical tensions in the Middle East, heavy selling by FPIs and concerns over election results on Monday remained bearish,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 8,293.41 crore on Monday, while domestic institutional investors (DIIs) bought shares worth Rs 13,245.12 crore.
Vijayakumar said net FPI selling of Rs 50,011 crore during the last six trading sessions was offset by buying by DIIs of Rs 53,203 crore. He said there are enough indications to show that FPIs are adopting a 'sell in India, buy in China' strategy.
