Tech Mahindra, NTPC, M&M, Titan and HCL Tech were among the gainers.
Equity benchmark Sensex rose over 100 points in early trade on Wednesday, September 22, 2021, tracking gains in IT stocks amid continued foreign fund inflows.
However, the 30-share Sensex was trading at 58,968.52, down 36.75 points or 0.06 per cent. Similarly, the Nifty closed at 17,551.55, down 10.45 points or 0.06 per cent in opening deals.
HDFC was the top loser in the Sensex pack, falling over 1 per cent, followed by Axis Bank, Tata Steel, Nestle India, HDFC Bank and HUL.
On the other hand, Tech Mahindra, NTPC, M&M, Titan and HCL Tech were among the gainers.
In the previous session, the 30-share index closed at 514.34 points. or 0.88 per cent higher at 59,005.27, while the Nifty rose 165.10 points, or 0.95 per cent, to 17,562.
purchase by FII
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 1,041.92 crore on Tuesday, according to provisional exchange data.
“Domestic equities look soft right now. Notably, yesterday’s recovery in equities and strong inflows from DII and FII suggest that markets have discounted a potential downside from a possible default by Chinese real estate giant Evergrande, while Thursday will be significant as USD 83 million. The interest payment for Evergrande is due on that day,” said Binod Modi Head-Strategy at Reliance Securities.
However, given the sharp rise in the coronavirus daily caseload and the rising likelihood of a fall in earnings in the USA markets following the sustained reform measures undertaken by the government in India, there has been a revival of FII interest in the domestic market, he said.
US equities remained mixed in the overnight session with the Dow and the S&P 500 posting losses for the fourth day in a row as investors wary of Fed meeting results and a possible downside from Evergrande’s default.
Elsewhere in Asia, shares in Shanghai and Tokyo were trading with losses. Hong Kong and Seoul markets remained closed.
Meanwhile, international oil benchmark Brent crude rose 0.98 per cent to $75.09 a barrel.
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