Stock Market Updates: The Benchmark Indices opened flat on Tuesday.
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Summary: Sensex and Nifty Slips, Check out the details.
Due to conflicting global cues, benchmark equity indices the BSE Sensex and Nifty50 were trading down on Tuesday.
At 11 AM, the Nifty50 was down 87.85 points, or 0.38%, at 22,871.65, while the BSE Sensex was down 269.39 points, or 0.35%, at 75,727.47.
On Monday, February 17, Indian stock markets halted an eight-day losing trend, closing marginally higher amid ongoing selling by foreign institutional investors (FIIs). On the day, domestic investors net purchased shares worth Rs 4,759.77 crore, while FIIs net sold Indian stocks worth Rs 3,937.83 crore.
According to Finance Minister Nirmala Sitharaman, the robust returns currently produced by the Indian economy are the reason for the recent profit-booking by foreign investors. She underlined that India is committed to become an investor-friendly location at a news conference held after the Budget.
Our Finance Minister has stated, “FIIs tend to exit when they are in a position to book profits. Today, the Indian economy offers an environment where investments are yielding good results, prompting this profit-booking activity.”
Global equity markets performed in a varied manner as of 9:06 a.m. Tokyo time, with some major indices seeing tiny drops and others seeing modest increases. S&P 500 futures increased by 0.1%, suggesting that U.S. markets are off to a cautious but promising start to the trading day.
The Hong Kong stock market's optimism was reflected in the 0.3% advance in Hang Seng futures. Positive mood in the local equity market drove a more noticeable 0.4% increase in Japan's Topix. However, there was a 0.4% decrease in Australia's S&P/ASX 200 index.
Globally, investor confidence varies, as evidenced by the uneven performance across areas. While some markets benefit from optimism, others encounter obstacles that limit their potential for growth.
