India's stock market displayed a dramatic up-and-down session on Tuesday, ultimately managing to finish in the green. The Sensex, India's key stock index, ended the day at 79,476.63 points, climbing by 694.39 points or 0.88%. Similarly, the Nifty 50 rose to 24,213.30 points, gaining 217.95 points or 0.91%. Despite this positive close, the Sensex remains below its all-time peak of 85,978 points.
Throughout Tuesday, Indian markets experienced significant volatility, reflecting broader investor anxiety. Early in the day, sustained selling from foreign portfolio investors (FPIs) weighed heavily on stocks, pushing the Sensex down by around 1,500 points at one stage. However, some of these losses were recovered by the session's close. NSE data highlighted key sectors that contributed to the rebound, with Nifty Bank, Financial Services, Metal, PSU Bank, and Private Bank indices leading the way.
Foreign portfolio investors' selling has exerted consistent pressure on the Indian market, particularly over the past month. October witnessed FPIs selling a record-breaking amount of Rs 94,017 crore in Indian stocks, marking the highest monthly outflow ever recorded, according to National Securities Depository Limited (NSDL) data.
This story is from the November 06, 2024 edition of The Business Guardian.
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This story is from the November 06, 2024 edition of The Business Guardian.
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