Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Domestic stock market prices dropped on Thursday after trading higher for the previous two days.
The Sensex and Nifty were both down between 0.4 and 0.5 percent in the opening session. The potential for a slowdown in global economic development this year and the most recent withdrawal of capital by foreign portfolio investors (FPIs) from Indian stocks are to blame for the gloomy market mood.
According to the most recent information from the National Securities Depository, foreign portfolio investors (FPIs) have sold assets worth around Rs 15,878 crore in the Indian stock markets so far in 2023.
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A substantial reduction in both retail and wholesale inflation in the nation prevented the indices from falling much, though.
However, investors would keep an eye out for fresh cues coming from the upcoming Union Budget for 2023–24, slated to be presented on February 1.
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