Indian Markets Rebound on Blue-Chip Buying
By Rediff Money Desk, Mumbai Jul 09, 2024 09:53
Indian equity benchmarks rebounded on Tuesday, driven by buying in blue-chip stocks and foreign fund inflows. The Sensex gained 205.99 points, while the Nifty rose 53 points.
Mumbai, Jul 9 (PTI) Equity benchmark indices rebounded in early trade on Tuesday amid buying in blue-chip stocks and foreign fund inflows.
The 30-share BSE Sensex climbed 205.99 points to 80,166.37 in early trade. The NSE Nifty went up by 53 points to 24,373.55.
Among the Sensex pack, Maruti Suzuki India, Mahindra & Mahindra, Titan, Adani Ports, Tata Motors, Larsen & Toubro, HDFC Bank and State Bank of India were the biggest gainers.
Hindustan Unilever, Tech Mahindra, Axis Bank and Infosys were among the laggards.
In Asian markets, Seoul and Tokyo were trading higher while Shanghai and Hong Kong quoted lower.
US markets ended mostly higher on Monday.
"The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations.
"A healthy trend in the market is that fundamentally strong largecaps are seeing buying. The rising accumulation and delivery-based buying in largecaps like RIL and ITC is a reflection of this healthy trend," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Foreign Institutional Investors (FIIs) bought equities worth Rs 60.98 crore on Monday, according to exchange data.
Global oil benchmark Brent crude declined 0.28 per cent to USD 85.51 a barrel.
The BSE benchmark declined 36.22 points or 0.05 per cent to settle at 79,960.38 on Monday. The NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.
The 30-share BSE Sensex climbed 205.99 points to 80,166.37 in early trade. The NSE Nifty went up by 53 points to 24,373.55.
Among the Sensex pack, Maruti Suzuki India, Mahindra & Mahindra, Titan, Adani Ports, Tata Motors, Larsen & Toubro, HDFC Bank and State Bank of India were the biggest gainers.
Hindustan Unilever, Tech Mahindra, Axis Bank and Infosys were among the laggards.
In Asian markets, Seoul and Tokyo were trading higher while Shanghai and Hong Kong quoted lower.
US markets ended mostly higher on Monday.
"The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations.
"A healthy trend in the market is that fundamentally strong largecaps are seeing buying. The rising accumulation and delivery-based buying in largecaps like RIL and ITC is a reflection of this healthy trend," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Foreign Institutional Investors (FIIs) bought equities worth Rs 60.98 crore on Monday, according to exchange data.
Global oil benchmark Brent crude declined 0.28 per cent to USD 85.51 a barrel.
The BSE benchmark declined 36.22 points or 0.05 per cent to settle at 79,960.38 on Monday. The NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.81 ( 0.00)
- 38202978
- Vodafone Idea L
- 9.26 (+ 1.54)
- 27539950
- Rajnish Wellness
- 3.31 (+ 9.97)
- 24588356
- Filatex Fashions
- 1.01 (+ 4.12)
- 23344273
- Standard Capital
- 1.41 ( -6.00)
- 16639728
MORE NEWS
Waaree Energies IPO: Rs 4,321-cr Issue Opens...
Waaree Energies'' IPO to open on October 21, 2023 with a price band...
South Indian Bank Q2 Profit Up 18% to Rs 325 Cr...
South Indian Bank reported an 18% increase in Q2 profit to Rs 325 crore, driven by...
Akums Drugs Inks Licensing Pact with Canadian...
Akums Drugs and Pharmaceuticals has signed a licensing agreement with Triple Hair Inc....