Representational picture solely.
Equity market witnessed risky buying and selling within the morning session on February 13, with benchmark indices Sensex and Nifty shedding their marginal positive factors amid combined cues from Asian markets.
Starting off the week on shaky observe, the 30-share BSE Sensex declined 196.61 factors or 0.32% to 60,486.09 factors whereas the NSE Nifty fell 38.50 factors or 0.22% to 17,818 factors.
As many as 18 shares within the Sensex have been within the damaging territory, with a lot of the IT shares, together with Infosys, Tata Consultancy Services and Wipro slipping within the morning session.
V. Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated there isn’t any clear route out there.
“There are both negative and positive signs. The rise in the dollar index to 103.7 and the hardening of bond yields are unfavourable for emerging market equity. Rising yields indicate that rates will remain higher for longer. Also, the spike in Brent crude to around $86 is a macro concern for India,” he stated.
Foreign Portfolio Investors (FPIs) have been internet patrons on February 10, buying shares price ₹1,458.02 crore. The reversal in promoting by FPIs is a optimistic for the home market.
Most of the Asian markets, together with Japan and Hong Kong have been within the crimson whereas China was within the optimistic territory. On Friday, the U.S. market closed on a combined observe whereas the European market ended with losses.
Source: www.thehindu.com
