Asian Paints, Bajaj Finance, Axis Bank, Bajaj Finserv, Maruti Suzuki India and Kotak Mahindra Bank were the major gainers.
Asian Paints, Bajaj Finance, Axis Bank, Bajaj Finserv, Maruti Suzuki India and Kotak Mahindra Bank were the major gainers.
The Sensex rose over 317 points in early trade on Wednesday, July 6, 2022, as foreign funds became net buyers of domestic equities after a long gap.
The 30-share BSE benchmark index rose 317.52 points to 53,451.87 in early trade. The NSE Nifty rose 81.8 points to 15,892.65.
Asian Paints, Bajaj Finance, Axis Bank, Bajaj Finserv, Maruti Suzuki India and Kotak Mahindra Bank were the top gainers in the Sensex pack.
Tata Steel, NTPC, Power Grid and Reliance Industries were among the laggards.
The BSE benchmark closed down 100.42 points or 0.19 per cent at 53,134.35 on Tuesday. The Nifty closed at 15,810.85, down 24.50 points or 0.15 per cent.
“There are a lot of signals from the markets: Brent crude crashed near USD 100 a barrel, dollar index climbs above 106, rupee falls again to lowest level, euro is at 20-year low of dollar and Perhaps most importantly, VK Vijayakumar, chief investment strategist, Geojit Financial Services, said from the Indian market perspective, FIIs became buyers after a long gap.
‘Commodity crash positive for India’
While the crude crash along with corrections in other commodities like metals is a bearish sign indicating a rising possibility of a recession in the United States, he said the commodity crash is positive for the Indian economy and for FII (foreign institutional investors) buyers. A bullish signal. Indian Equity Market.
“As per preliminary data made public on NSE, FIIs became net buyers on July 5, for the first time since May 30, buying shares worth ₹1,295.84 crore,” said Mohit Nigam, head of PMS at Hem Securities.
FIIs became net buyers after being net sellers in the capital market for the past several days as they bought shares worth ₹1,295.84 crore on Tuesday.
Elsewhere in Asia, markets in Tokyo, Shanghai, Hong Kong and Seoul were trading lower on Wednesday.
The US markets closed mostly up on Tuesday.