In a highly volatile trade, Indian stock indices hovered substantially lower from the previous closing, largely due to sustained selling by foreign portfolio investors.
The October bloodbath of the Indian stock market continues in November with both the major indices Nifty and Sensex tanked more than 1.5 per cent on Monday in mid-session.
As the Indian benchmarks experienced range-boud consolidation in the last trading week, markets are expected to remain sensitive to foreign fund outflows and a subdued earnings season, say the market experts.
Sensex closed 0.4 per cent higher at 79,688 points, while Nifty closed 0.4 per cent to end at 24,300 points, rebounding from two days of losses. All sectoral indices opened in green and continued upward during the Muhurat Trading hour, with only Nifty IT closing marginally lower by 0.02 p
Stock indices settled substantially lower Thursday, with foreign portfolio investors (FPIs) continuing to offload their assets in India lately, coupled with lower-than-expected July-September earnings of India Inc.
On Friday evening, on the occasion of Diwali Laxmi Puja, stock exchanges in India will be open for a special one-hour trade, in what is called Muhurat trading.
Indian markets opened flat on Diwali, with both indices struggling between bears and bulls. The Nifty index traded flat with a marginal dip at 24,326.75, down by 0.06 percent during the opening session, while the BSE Sensex index also dipped marginally to trade almost flat at 79,859.62 poin
Indian stock markets opened flat amid a buying and selling trend by domestic investors and Foreign Institutional Investors (FIIs). The continuous selling by FIIs and buying support from Domestic Institutional Investors (DIIs) have shifted markets into a balanced mode.