Share Market: Amidst the bullish trends in the global markets, today there was a great start of trading in the domestic market.
BSE Sensex soars over 1100 points to trade above 56000, while NSE Nifty 50 index was nearing 16700. Infosys, Mahindra & Mahindra, Wipro, HCL Tech, Tata Consultancy Services (TCS), UltraTech Cements, HDFC, Reliance Industries Ltd were top Sensex gainers. All the Nifty sectoral indices were trading in the green, with Nifty IT leading the pack, up 2.6 per cent. Nifty Bank index was up 1.2 per cent, Nifty Auto added 1.8 per cent, and Nifty FMCG gained 0.9 per cent.
Due to the rise in SGX Nifty on the Singaporean Exchange, the Sensex and Nifty are also seeing a jump as expected. Both Sensex and Nifty have gained more than one percent. There is a buying trend in most of the stocks on the Sensex. Most buying is seen in Infosys, M&M and Wipro, while NTPC and Kotak Bank are showing maximum selling. During the business today, the focus will be on many companies including Aurobindo Pharma, Sun TV Network, FSN E-commerce and Adani Enterprises. Apart from this, today there is a listing of shares of Ethos, a luxury watch selling giant.
Today the market’s opening was excellent and the Sensex is currently at 55,551.48 with a gain of 666.82 points and the Nifty is at 16,527.70 with a jump of 175.25 points.
The selling process of Foreign Portfolio Investors (FPIs) in the Indian stock markets continues in May as well. In May, FPIs withdrew more than Rs 39,000 crore from Indian stock markets. FPIs continue to be a seller in the Indian market amid the strengthening of the dollar and the possibility of a hike in interest rates by the Federal Reserve. FPIs have so far withdrawn Rs 1.66 lakh crore from Indian stock markets in 2022.
On the first trading day of this week, today the trend of bullishness in the global markets can be seen in the domestic market as well. Many big figures are to come on the domestic front this week, which will decide the movement of the market. Talking about today, the focus will be on many companies including Aurobindo Pharma, Sun TV Network, FSN E-commerce and Adani Enterprises during the business. Apart from this, today the shares of Ethos, a luxury watch selling giant, are listed on the domestic equity benchmark index.