Sensex, Nifty Rise: Global Optimism & Retail Investments Drive Market Up
By Rediff Money Desk, Mumbai Aug 20, 2024 09:56
Sensex and Nifty climbed in early trade on Tuesday, driven by positive global markets and consistent retail investor activity. TCS, IndusInd Bank, and NTPC led gains, while Bharti Airtel and Tata Steel lagged.
![Sensex, Nifty Rise: Global Optimism & Retail Investments Drive Market Up](https://im.rediff.com/money/2021/jan/11sensex.jpg)
Photograph: Utpal Sarkar / ANI Photo.
Mumbai, Aug 20 (PTI) Benchmark equity indices Sensex and Nifty climbed in early trade on Tuesday in line with optimism in global markets and steady investments by retail investors.
The 30-share BSE Sensex climbed 338.21 points to 80,762.89 in early trade. The NSE Nifty rallied 87.65 points to 24,660.30.
Among the 30 Sensex firms, Tata Consultancy Services, IndusInd Bank, NTPC, Axis Bank, UltraTech Cement, Power Grid, Infosys and Bajaj Finserv were the major gainers.
Bharti Airtel, Tata Steel, JSW Steel and Tata Motors were among the laggards.
In Asian markets, Seoul and Tokyo traded higher while Shanghai and Hong Kong quoted lower.
The US markets ended in positive territory on Monday.
"Much of the strength and rally at Dalal Street is in the backdrop of steady SIP flows by retail investors. Global factors will be keenly watched as local investors would be eyeing the July FOMC (Federal Open Market Committee) meeting minutes to be released on Wednesday," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,667.46 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 1,802.92 crore.
Global oil benchmark Brent crude dipped 0.79 per cent to USD 77.05 a barrel.
In a range-bound trade, the BSE benchmark on Monday slipped 12.16 points or 0.02 per cent to settle at 80,424.68. The NSE Nifty edged up 31.50 points or 0.13 per cent to 24,572.65 in a volatile trade.
The 30-share BSE Sensex climbed 338.21 points to 80,762.89 in early trade. The NSE Nifty rallied 87.65 points to 24,660.30.
Among the 30 Sensex firms, Tata Consultancy Services, IndusInd Bank, NTPC, Axis Bank, UltraTech Cement, Power Grid, Infosys and Bajaj Finserv were the major gainers.
Bharti Airtel, Tata Steel, JSW Steel and Tata Motors were among the laggards.
In Asian markets, Seoul and Tokyo traded higher while Shanghai and Hong Kong quoted lower.
The US markets ended in positive territory on Monday.
"Much of the strength and rally at Dalal Street is in the backdrop of steady SIP flows by retail investors. Global factors will be keenly watched as local investors would be eyeing the July FOMC (Federal Open Market Committee) meeting minutes to be released on Wednesday," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,667.46 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 1,802.92 crore.
Global oil benchmark Brent crude dipped 0.79 per cent to USD 77.05 a barrel.
In a range-bound trade, the BSE benchmark on Monday slipped 12.16 points or 0.02 per cent to settle at 80,424.68. The NSE Nifty edged up 31.50 points or 0.13 per cent to 24,572.65 in a volatile trade.
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
- Zomato
- 261.75 ( -0.21)
- 209194056
- GTL Infrastructure
- 2.79 ( -2.79)
- 25955699
- Vodafone Idea L
- 15.98 (+ 0.13)
- 24084396
- Ola Electric Mobilit
- 133.51 ( -8.57)
- 18013977
- Filatex Fashions
- 1.31 ( -1.50)
- 17872845
MORE NEWS
Flutter Entertainment Opens Global Capability...
Flutter Entertainment has opened a new Global Capability Centre in Hyderabad, India,...
Panacea Biotec Faces Rs 5.75 Crore GST Demand
Panacea Biotec received a Rs 5.75 crore GST demand in Mumbai for the sale of its...
![Hindustan Zinc...](https://im.rediff.com/80-80/money/2021/may/11dividend.jpg)
Hindustan Zinc Declares Rs 8,028 Cr Interim...
Hindustan Zinc Ltd has announced a second interim dividend of Rs 19 per share, totaling...