MUMBAI: The Sensex rose nearly 1,000 points on Monday as volatility on Dalal Street continued, with the India VIX index, a volatility gauge, rising to a multi-month high of 21.5. Uncertainty related to polls and selling by foreign funds are weighing on market sentiment, dealers and analysts said.
The Sensex started the new week on a weak note, dropping nearly 200 points from Friday’s close. By mid-session, it had fallen to an intraday low of 71,866 points, but then rebounded to an intraday high of 71,864 points, rising 112 points to close at 72,776 points.
On NSE, nifty rose 49 points to close at 22,104.
As we have seen over the past few weeks, foreign portfolio investors remain net sellers, while domestic institutional investors are net buyers. As of the day’s close, DIIs were net buyers of Rs 3,563 crore, while FPIs recorded net outflows of Rs 4,499 crore, according to BSE data. Foreign funds have net sold stocks worth Rs 22,800 crore so far in May, according to CDSL and BSE data. In contrast, DII is net-buying stocks worth nearly Rs 23,000 crore, BSE data showed.
Fund managers and institutional dealers say China and Hong Kong markets have been underperforming for a long time, but have recently shown a sensible uptrend, prompting some foreign fund managers to pull capital out of India. , is said to be injecting funds into those markets.
Volatility is also a concern for domestic investors. The 998-point intraday swing in the Sensex was reflected in the India VIX, which hit an intraday high of 21.5, the highest level since September 2022.
Brokers feel that the relatively low turnout in the current Lok Sabha polls is a cause for concern and could lead to unpredictable results. When the first phase of polling began on April 19, most residents of Dalal Street expected a landslide victory for the ruling NDA. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services “This has been a major concern in the past.”
Monday’s trade saw a smart recovery in the Sensex on the back of strong buying in HDFC Bank, ICCI Bank and TCS, while strong selling in stocks like Tata Motors, Bharti Airtel and SBI led the index on the day. limited the rise in
Of the 30 Sensex stocks, 16 stocks closed with gains, while 14 stocks closed in the red. According to BSE data, laggards outnumbered winners across the market, with 2,254 stocks ending lower and 1,707 stocks ending higher.
The Sensex started the new week on a weak note, dropping nearly 200 points from Friday’s close. By mid-session, it had fallen to an intraday low of 71,866 points, but then rebounded to an intraday high of 71,864 points, rising 112 points to close at 72,776 points.
Expanding
On NSE, nifty rose 49 points to close at 22,104.
As we have seen over the past few weeks, foreign portfolio investors remain net sellers, while domestic institutional investors are net buyers. As of the day’s close, DIIs were net buyers of Rs 3,563 crore, while FPIs recorded net outflows of Rs 4,499 crore, according to BSE data. Foreign funds have net sold stocks worth Rs 22,800 crore so far in May, according to CDSL and BSE data. In contrast, DII is net-buying stocks worth nearly Rs 23,000 crore, BSE data showed.
Fund managers and institutional dealers say China and Hong Kong markets have been underperforming for a long time, but have recently shown a sensible uptrend, prompting some foreign fund managers to pull capital out of India. , is said to be injecting funds into those markets.
Volatility is also a concern for domestic investors. The 998-point intraday swing in the Sensex was reflected in the India VIX, which hit an intraday high of 21.5, the highest level since September 2022.
Brokers feel that the relatively low turnout in the current Lok Sabha polls is a cause for concern and could lead to unpredictable results. When the first phase of polling began on April 19, most residents of Dalal Street expected a landslide victory for the ruling NDA. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services “This has been a major concern in the past.”
Monday’s trade saw a smart recovery in the Sensex on the back of strong buying in HDFC Bank, ICCI Bank and TCS, while strong selling in stocks like Tata Motors, Bharti Airtel and SBI led the index on the day. limited the rise in
Of the 30 Sensex stocks, 16 stocks closed with gains, while 14 stocks closed in the red. According to BSE data, laggards outnumbered winners across the market, with 2,254 stocks ending lower and 1,707 stocks ending higher.
