MUMBAI: After falling over 600 points at the start of Tuesday’s session mainly due to selloff in US markets last night, Sensex A strong comeback in late trade ended 581 points higher at 53,429. Exporters and financial companies mainly hit the weak . led the rally due to Rupee will add to their bottom line, while Reliance Industries Continued to face selling pressure as rising crude oil prices are seen as pressure on the prices of its products.
The day’s gains came despite heavy foreign fund selling with the stock market netting Rs 8,143 crore in session net outflows of over $1 billion, one of the biggest single-session net outflow figures in recent months. . The day’s outflow numbers also took the year’s total figure to over Rs 1 lakh crore, BSE and CDSL data shown.
After the initial fall in the Sensex, the recovery came on the basis of buying in software exporters. In the broader market, shares of pharma companies showing substantial export revenue also rose.
According to Vinod Nair, Head of Research, Geojit Financial Services, domestic indices reversed their trend and traded with gains led by export-oriented sectors such as pharma and IT, with buying interest as the rupee fell to a record low. Viewed. Favorable exit poll results for state elections and buying in mid- and small-caps at lower levels also helped restore some optimism among domestic investors, he wrote in a post-market note. He said that some western markets were also trading in the green in the opening session, which helped the recovery in the domestic market as well.
Sun Pharma closed 4% higher among major exporters TCS was up 3.3% and Wipro Closed with a gain of 2.7%. While the Healthcare index closed up 2% on the BSE, the IT index closed up 2.4%.
The day’s gains came despite heavy foreign fund selling with the stock market netting Rs 8,143 crore in session net outflows of over $1 billion, one of the biggest single-session net outflow figures in recent months. . The day’s outflow numbers also took the year’s total figure to over Rs 1 lakh crore, BSE and CDSL data shown.
After the initial fall in the Sensex, the recovery came on the basis of buying in software exporters. In the broader market, shares of pharma companies showing substantial export revenue also rose.
According to Vinod Nair, Head of Research, Geojit Financial Services, domestic indices reversed their trend and traded with gains led by export-oriented sectors such as pharma and IT, with buying interest as the rupee fell to a record low. Viewed. Favorable exit poll results for state elections and buying in mid- and small-caps at lower levels also helped restore some optimism among domestic investors, he wrote in a post-market note. He said that some western markets were also trading in the green in the opening session, which helped the recovery in the domestic market as well.
Sun Pharma closed 4% higher among major exporters TCS was up 3.3% and Wipro Closed with a gain of 2.7%. While the Healthcare index closed up 2% on the BSE, the IT index closed up 2.4%.