Sensex, Nifty Rise in Early Trade on Foreign Flows and Global Cues

Benchmark indices Nifty and Sensex continued their momentum in initial trading on Tuesday with the aid of foreign fund inflows and a healthy performance on US bourses. The 30-share BSE Sensex gained 418.54 points to reach 78,402.92, and the NSE Nifty added 107.85 points to reach 23,766.20. Major gainers were UltraTech Cement, Infosys, HCL Tech, Tata Consultancy Services, and Kotak Mahindra Bank.

Foreign Institutional Investors (FIIs) were net buyers on Monday, buying equities to the tune of Rs 3,055.76 crore, which again lifted market sentiment. While Indian markets witnessed a positive trend, Asian markets had a mixed day, with Tokyo being in the green, but Seoul, Shanghai, and Hong Kong witnessing falls. In the US, markets closed much higher on Monday, adding to the positive sentiment.

Analysts referred to a set of factors that included FIIs emerging as net buyers, strengthening Indian economic fundamentals, and a good rally in mid and small-cap shares. “The upsurge has also put retail investors back in the market,” said the expert. Brent crude also rose marginally, being traded at $73.02 per barrel.