Indian stock markets corrected sharply on Thursday amid global cues and FPI selling, as today marks the last day of the SEBI deadline for unregistered foreign investors to disclose beneficial owners.
Amid the heightened volatility in the Indian stock markets, a report by SBI funds highlighted that the focus of markets will move towards companies with good fundamentals and strong business models.
Indian markets opened with gains on Thursday, despite selling pressure in major global stock markets. Both indices registered marginal increases at the opening.
Indian stock markets started September with gains as both indices opened positively on Monday. The Nifty 50 index opened with a gain of 97.70 points or 0.39 per cent at 25,333.60, while the BSE Sensex index began the week with a gain of 0.44 per cent or 359 points at 82,725.28 points.
Indian stock markets opened on a positive note on the last trading session of August, following a global rally in stocks after the strong GDP numbers of the US economy.
Stock markets globally are facing pressure after Nvidia management disappointed some investors during the announcement of quarterly results. The company, however, showed good quarterly results.
Berkshire Hathaway Inc., the conglomerate led by American Businessman Warren Buffett, has made history by becoming the first U.S. non-tech company to surpass the USD 1 trillion mark in market capitalisation.
Expectations of strong festival season demand, revival in rural demand, and hopes of interest rate cuts later this fiscal year are expected to support stock markets, brokerage Prabhudas Lilladher said in its latest 'India Strategy' report.