Mumbai (Maharashtra) [India]April 29 (ANI): Indian equity markets started Tuesday’s session on a positive note on Tuesday, supported by strong flow from foreign portfolio investors (FPIs) and domestic institutional investors (DIIs).
The Nifty 50 index opened at 24,370.70, up to 42.20 points or 0.17 per cent, while the BSE Sensx opened 178 points to 80,396.92 and opened a profit of 0.22 per cent at 80,396.92. Both indices continue to move upwards.
Show full article
Market experts highlighted that benefits are mainly inspired by positive flows from both domestic and international fronts. However, he warned that uncertainty continues due to geopolitical risk of possible kinetic action against Pakistan.
Ajay Bagga Banking and Market Expert told ANI, “Indian markets are benefiting from joint flow from returning FPIs and continuing DII flow. Geophysical overhang is being addressed for now, which are leading to good performance in markets, but we are reaching major levels. Watched for both of us. We saw, we are not able to reach those levels yet.”
Meanwhile, the high-net-world individual (HNI) desks are reportedly enhancing cash on every market move, and mutual funds are also maintaining high-general cash levels in their equity portfolio.
On the liquidity front, the Reserve Bank of India (RBI) is operating the open market operations (OMO) to inject systemic liquidity.
The move is funding the markets well even after taking back more than US $ 2.5 billion from Indian bond markets in the last month.
Experts said the liquidity may again slip to loss, allowing RBI’s front-loading to get timely and welcome steps. This money is expected to benefit both markets and bond yields. However, the yield of bonds has increased slightly from their early April climb, a development that is seen as a slightly negative signal for equity.
Akshay Charachalkar, head of the research of Axis Securities, said, “The Nifty was recovered from Friday’s drop yesterday, but still not moving from 24360 area, which has now served as high for the last 4 sessions. The short -term price structure remains until we are below 23872, but there is material material between 24360 and 24500.”
Apart from regional indices on NSE, all areas were opened in green on Tuesday. The Nifty PSU Bank led the profit, followed by the Nifty Auto, which rose 0.52 percent. The Nifty media increased by 0.7 percent, the Nifty increased by 0.43 percent, and the Nifty Pharma was also in green at the time of filing the report, up to 0.24 percent.
In other Asian markets, a minor movement was observed with profit. Hong Kong’s Hang Seng Index was trading with a profit of 0.4 percent, Taiwan’s weighty index increased by 0.5 percent, and South Korea’s Kospi index increased by 0.6 percent. All major markets in Asia were opened with benefits, while the Japanese market remained closed for holiday. (AI)
This report has been auto-generated from Ani News Service. ThePrint does not have any responsibility for its content.