Mumbai: Equity standard Sensex and Nifty today started on a flat note on Tuesday tracking a blended trend in global markets and encouraged foreign fund outflow.
Asian Paints was on the top in the gainer list in the Sensex live today pack, also increasing over 1 percent, followed by PowerGrid, L&T, TCS, Reliance Industries, HCL Tech, and ITC.
The 30-share BSE index was exchanging 22.82 points or 0.04 percent more at 52,758.41 in the beginning deals.
Likewise, the wider NSE Nifty today’s share price inched 7.45 points or 0.05 percent up to 15,822.15.
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On the other side, ICICI Bank, M&M, HDFC Bank, Kotak Bank and Infosys were among the slow pokers.
Foreign Institutional Investors (FIIs) were net dealers in the capital market as they offloaded shares worth Rs 1,658.72 crore on Monday, according to provisional trade information.
In the past sessions, the 30-share record of Sensex bse finished 189.45 points or 0.36 percent lower at 52,735.59, while Nifty today share price settled 45.65 points or 0.29 percent down at 15,814.70.
sensex bse & Nifty today Start On A Flat Note
As per the Binod Modi Head Strategist for Reliance Securities, domestic equities seems to be flat as of now.
Prominently, a sharp fall in everyday caseload and satisfactory increase in vaccination process have raised concerns rising up out of higher crude costs and weakening rupee, he said.
The cut down of measures by Finance Minister on Monday to encourage the economic activities going well, he said.
He also said that the increase in allocation for the Emergency Credit Line Guarantees Scheme from Rs 3 trillion to Rs 4.5 trillion and is a better move to support the pandemic hit sectors and make sure liquidity, which also offers comfort to the banks.
According to V K Vijayakumar who is the Chief Investment Strategist at Geojit Financial Services, the hardest headwind for the market now is the continuous FII selling which is logical in the context of the higher valuations.
Somewhere else in Asia, because bourses in Shanghai, Hong Kong, Seoul and Tokyo were exchanging with losses in the mid session deals.
Also In the meantime, global oil benchmark Brent crude was exchanging 0.55 percent lower at USD 73.73 per barrel.