ANI
28 Nov 2022, 10:33 GMT+10
New Delhi [India], November 28 (ANI): Indian stock indices started the new week with a positive bias, extending gains from the previous sessions. The benchmark Sensex is at its new all-time high.
At the time of writing this report, Sensex traded at 62,393.27 points, up 99.63 points or 0.16 per cent, whereas Nifty traded at 18,536.10 points, up 23.35 points, up 0.13 per cent.
Among the Nifty 50 stocks, BPCL, CBI Life, Hero Motocorp, Reliance Industries, and Tata Motors are the top five gainers, while Hindalco, Apollo Hospitals, HDFC, JSW Steel, and HDFC Bank are the top five losers, National Stock Exchange data showed.
The robust inflows of foreign funds, relative strength in the Rupee, and hint by the US Fed on slowing down on policy rates supported Indian stock markets.
The minutes of the US Federal Reserve's latest monetary policy review meeting showed a substantial majority of members judged that a slowing in the pace of increase in policy rates would likely "soon be appropriate".
Coming to foreign funds, they have purchased Rs 31,630 crore worth of equities in India so far in November, NSDL data showed.
"Foreign portfolio investors (FPIs) continue to be bullish on India markets in comparison to the other emerging and developed markets. The testimonial to this is the consistent buying trend seen since October 2022," said Manoj Purohit, Partner and Leader - Financial Services Tax, BDO India.
"The Indian equity market has managed to attract foreign investors and the credit goes to the steady performance of the Indian economy despite the global headwinds of the ongoing military war, fluctuating fed rates and fear of recession knocking on the door," said Purohit.
Meanwhile, Rupee opened at 81.77 against the US dollar versus Friday's closing of 81.69.
For the record, in October, the rupee breached the 83 mark for the first time in its history. So far this year, the rupee has depreciated around 7-9 per cent. (ANI)Get a daily dose of San Antonio Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Antonio Post.
More InformationDALLAS, Texas: Southwest Airlines will start charging passengers for checked bags, ending a long-standing policy that set it apart...
ENNIS, Texas: A man died, and three of his family members were injured when their RV flipped several times during a strong storm at...
CHICAGO/WASHINGTON, D.C.: Farmers and food groups across the U.S. are laying off workers, stopping investments, and struggling to get...
WASHINGTON, D.C.: The U.S. Centers for Disease Control and Prevention (CDC) is planning an extensive study on possible links between...
SANTA FE: New Mexico: A New Mexico resident who died recently tested positive for measles, marking the state's first measles-related...
(Photo credit: Kim Klement Neitzel-Imagn Images) Baltimore Orioles 2024 record: 91-71 (2nd place, AL East). He gone: RHP Corbin...
WASHINGTON, D.C.: U.S. Transportation Secretary Sean Duffy announced that helicopters will be permanently banned from flying near Washington...
NEW YORK CITY, New York: The U.S. must accelerate its efforts to develop fusion energy or risk losing its edge to China, Virginia Governor...
WASHINGTON, D.C.: In the past 20 years, China has become the world's top shipbuilder, producing more than half of all commercial ships....
ALBANY, New York: New York fired over 2,000 prison guards this week for not returning to work after a weeks-long strike that disrupted...
BEIJING, China: China has announced new tariffs on Canadian agricultural and food products in retaliation for Canada's recent duties...
ENNIS, Texas: A man died, and three of his family members were injured when their RV flipped several times during a strong storm at...