ANI
12 Aug 2022, 15:18 GMT+10
New Delhi [India], August 12 (ANI): Indian stocks declined marginally on Friday morning primarily due to profit booking by investors after the recent consistent rally.
At 09:39 IST, Sensex traded at 59,200.27 points, down 132.33 points or 0.22 per cent, whereas Nifty traded at 17,624.50 points, down 34.50 points or 0.20 per cent.
Among the Nifty 50 companies, 32 were in the red and the rest 18 in the green, National Stock Exchange data showed.
Meanwhile, the rally in Indian stock indices has been continuing for the past four weeks on account of the return of foreign portfolio investors after nine long months as well as inflation seemingly plateauing. Foreign portfolio investors becoming net buyers in Indian stock markets again after nine long months renewed the investors' sentiment.
"It is important to appreciate the fact that FIIs have made a complete turnaround in their strategy in India with sustained buying over the last 10 sessions. And yesterday's buy figure of Rs 2298 cr is the highest in several months," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"This, and the fact that India has the best growth story for this year and the next, will impart resilience to the market," Vijayakumar added.
In the past one month, the indices - Sensex and Nifty - gained around 8-9 per cent each, respectively.
For fresh cues, Indian stock market investors will now await retail inflation data for July, which is expected this evening.
In India, retail inflation has been over the Reserve Bank of India's upper tolerance band of 6 per cent for the sixth consecutive month in a row in June. Retail inflation was at 7.01 per cent in June.
Further, companies such as Apollo Tyres, Finolex Cables, ONGC, HAL, and Sun TV will release their Q1 earnings. (ANI)
Get a daily dose of Shanghai Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Shanghai Sun.
More InformationOTTAWA, Canada: During a joint news conference with Ukrainian President Volodymyr Zelenskyy in Canada's capital, Ottawa, Prime Minister Justin Trudeau ...
BEIJING, China: A respected Uyghur scholar, known for her extensive work in studying Uyghur folklore and traditions, has been sentenced ...
BEIJING, China: Local authorities said a fire at the Shanjiaoshu coal mine in Guizhou province, southern China, killed 16 people ...
MADISON, Wisconsin: Last week, five flamingos were seen along a Lake Michigan beach in Wisconsin, attracting a large crowd of ...
LONDON, UK: The UK government said over the weekend that it could downscale the scope of the High Speed 2 ...
LAHAINA, Hawaii: This week, officials are expected to begin lifting restrictions on entry to the burn zone in Lahaina, Hawaii, ...
TOKYO, Japan: Toyota Motor (7203.T) is ramping up its production of electric vehicles (EVs) under both the Toyota and luxury ...
HANOI, Vietnam: While the European Union (EU) is set to impose tariffs on its Chinese rivals, Vietnamese electric vehicle (EV) ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...
SHANGHAI, China: A survey published this week by the American Chamber of Commerce (AmCham) in Shanghai showed that political tensions ...
Mumbai (Maharashtra) [India], September 27 (ANI): The stock market experienced a challenging start to the trading day on Wednesday as ...
(Photo credit: Pool Photo-USA TODAY NETWORK via Imagn Content Services, LLC) Steven Wilson came in second place in the eNASCAR ...