Trading momentum was positive ahead of retail inflation and industrial production data, which will be announced after market hours.
Trading momentum was positive ahead of retail inflation and industrial production data, which will be announced after market hours.
Equity benchmarks started the week on a positive note on Monday, September 12, 2022, amid support trends and strong foreign fund inflows in Asian markets.
Trading momentum was positive ahead of retail inflation and industrial production data, which will be announced after market hours.
The 30-share BSE Sensex climbed 274.07 points to 60,067.21 with a third consecutive session. Similarly, the broader NSE Nifty rose 79.45 points to 17,910.50.
Tech Mahindra, Infosys, Bajaj Finserv, Mahindra & Mahindra, Tata Steel and ICICI Bank were leading gainers in the 30-share Sensex pack.
However, HDFC, Dr Reddy’s, L&T, Asian Paints and Kotak Bank were among the laggards.
Elsewhere in Asia, markets in Japan were trading in positive territory, while markets in China and South Korea were closed for the holidays. Wall Street ended Friday with smart gains.
Meanwhile, international oil benchmark Brent crude slipped 1.38 per cent to $91.53 a barrel.
FII net buyer
Foreign institutional investors (FIIs) were net buyers of Rs 2,132.42 crore on Friday, according to exchange data.
“The most important bullish factor that has caused and sustained India’s market outperformance is the strong growth recovery in India now. The RBI report that pegs bank credit growth at 15.5 per cent now supports this fact. Is.
VKVJayakumar, Chief Investment Strategist, Geojit Financial Services, said, “While the financial position will remain resilient, some sector rotation can be expected at this juncture. The beaten-down IT segment may participate in a pullback rally.”