Mumbai (Maharashtra) [India]April 28 (ANI): Despite the ongoing tension between India and Pakistan, the Indian stock market today opened on a positive note, which continues to worry to invest the investors.
At the time of filing this report, the Nifty was at 95 points or 0.41 percent at 24,134 in the 50 index, while the sensex also increased by 406.96 points or 0.51 percent, which was to trade at 79,619.49.
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The situation on the India-Pakistan border remains significant concern for the participants of the market. However, foreign portfolio investors (FPIs) continue to support Indian equity. Last week, sales by high net-beauty individuals (HNI) put the markets under some pressure, but the new week shows improvement in overall feelings.
Ajay Bagga Banking and Market Expert told ANI, “FPI flow continues to support Indian markets along with DII flow. To absorb liquidity with any large OFS or IPO, markets are benefiting from these flows. However, we saw both major and comprehensive indices in India last week.
On the earning front, many important companies are scheduled today to announce their fourth quarter and full financial year results. These include UltraTech Cement, Indian Railway Finance Corporation, Adani Green Energy Limited, TVS Motor Company, IDBI Bank, Adani Total Gas, Oberoi Realty, Hexware Technologies, Nippon Life India Asset Management and UCO Bank.
The results will be closely viewed by investors to further market direction.
Globally, the United States is noted, where President Trump will complete 100 days in the office on 30 April. Since his inauguration on 20 January, the US markets have declined by more than 9 percent.
While tariff uncertainties are already spread, any trade deal with China can still take time to add global market gitlers.
The major data release from the US this week includes April Jobs Growth Number, the first quarter GDP and the PCE index of inflation, all of which are expected to be the major market movers.
“Investors became cautious, the Nifty became a pioneer to fall below 24,200, as the market was ignored after the India-Pakistan tension increased after the Pahalgam terror attack. Currently, the Nifty is licking near support; a breakdown is indicated in the region.
In other Asian markets today, Japan’s Nikkei 225 increased by 0.44 percent, Taiwan’s weighted index increased by 0.62 percent, and South Korea’s Cupi was flat but in green. However, Hong Kong’s Hang Seng index slipped slightly from 0.13 percent at the time of filing this report. (AI)
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