Mumbai: Benchmark indices bounced back in early trade on Friday, after falling in the past two days, helped by continuous buying from foreign institutional investors amid mixed trends in global markets. The 30-share BSE Sensex climbed by 153 points to stand at 60,989.41 in early trade. Similarly, the broader NSE Nifty advanced by 55.3 points to reach 18,108. Later, both the benchmark indices were trading flat.The 30-share BSE benchmark was trading 27.58 points lower at 60,808.83. The Nifty quoted marginally lower by 7.35 points at 18,045.35. As of now, markets are quite volatile.
The BSE benchmark declined 69.68 points or 0.11 percent to settle at 60,836.41 on November 3. The Nifty dipped 30.15 points or 0.17 percent to end at 18,052.70. Foreign Institutional Investors (FIIs) were net buyers on November 3 as they bought shares worth Rs 677.62 crore, as per exchange data.
“There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. But even in this unfavourable environment FII flows into India are rising. This vote of confidence in India is a clear positive,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Position of various stocks in markets
From the Sensex pack, Bajaj Finserv, Bajaj Finance, Mahindra & Mahindra, Tata Steel, Axis Bank, Larsen & Toubro, State Bank of India and UltraTech Cement were among the early winners.
Infosys, Tata Consultancy Services, Dr Reddy’s, HCL Technologies, Tech Mahindra and Hindustan Unilever Limited were among the laggards.
Position of markets worldwide
Asian markets in Seoul and Tokyo were trading lower, while Shanghai and Hong Kong quoted in the green.
Wall Street had ended lower on Thursday.
International oil benchmark Brent crude was trading 0.81 per cent higher at USD 95.44 per barrel.
(With PTI inputs)
(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)