Stock markets climb for second day on continuous foreign fund inflows
The Hindu
Rising for a second straight day, the 30-share BSE Sensex climbed 317.81 points or 0.51% to settle at 62,345.71
Benchmark indices Sensex and Nifty gained around half a per cent to close at nearly five-month high levels on Monday following continuous foreign fund inflows and firm trends in Asian and European markets.
Rising for a second straight day, the 30-share BSE Sensex climbed 317.81 points or 0.51% to settle at 62,345.71, the highest closing level since December 14. During the day, it rallied 534.77 points or 0.86% to 62,562.67.
The broader NSE Nifty gained 84.05 points or 0.46 per cent to end at 18,398.85 points, a level not seen since December 20, 2022.
Among the Sensex firms, Tata Motors jumped nearly 3% after announcing its quarterly earnings. ITC, Tech Mahindra, Hindustan Unilever, Larsen & Toubro, Infosys, Tata Steel and Mahindra & Mahindra were the other biggest gainers.
Fuelled by rising domestic demand, pricing actions and easing supply chain issues, Tata Motors reported a consolidated net profit of ₹5,408 crore for the March quarter and aims to improve the profit margins this fiscal despite headwinds.
Maruti, Tata Consultancy Services, Bajaj Finance, Asian Paints, Bajaj Finserv and Nestle were the laggards.
Foreign Institutional Investors (FIIs) were buyers on Friday as they bought equities worth ₹1,014.06 crore, according to exchange data.