On NSE, ONGC, Shree Cement, Titan, Hero MotoCorp were among the top gainers
Stock Market Update, September 15, 2021: On NSE, ONGC, Shree Cement, Titan, Hero MotoCorp were among the top gainers
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- Last Update:September 15, 2021, 9:32 am IST
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Indian markets open in positive territory amid weak global cues, benchmark BSE Sensex Opened at 58,311.33 with a gain of 64.24 points or 0.11 per cent. though broad nifty was trading at 17,402.05, up 22.05 or 0.13 per cent. On NSE, ONGC, Shree Cement, Titan, Hero MotoCorp were among the top gainers, while BPCL, Axis Bank, Tata Steel, IndusInd Bank were among the laggards. 33 shares advanced in early trade, 16 declined and 1 remained unchanged,
“The primary driver of this bull run has been liquidity and hence a reversal of the trend is only likely to be accompanied by a fall in liquidity, especially capital outflows arising from the sale of FPIs. Even though there were signs of this happening in July, but now there is no such sign. In fact the reverse has been happening for the past few days with continuous FPI buying. CPI inflation in the US for August is falling below expectations at 5.3%, reinforcing the Fed’s view that inflation is transient. This could support more FPI inflows into India, which, in turn, could provide flexibility to the market. But investors should remember that these positive developments are driving valuations too high. The broader market’s outperformance continued this month with some mid- to small-cap stocks rising disproportionately. There is hyper speculative activity in the broader market. Investors should be careful while operating in this segment. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said.
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