Stock market ends in positive territory for third consecutive session
Sensex closed up by 328.48 points or 0.45 per cent at 73104.61, while the Nifty surged by 118.55 points or 0.51 per cent to reach 22,217.85.
Sensex closed up by 328.48 points or 0.45 per cent at 73104.61, while the Nifty surged by 118.55 points or 0.51 per cent to reach 22,217.85.
Nifty 50 opened 27 points lower at 22,027.95 compared to its previous close of 22,055.20 and extended losses to as much as 234 points, or over 1%, reaching the intraday low of 21,821.05.
Shah in an interaction with NDTV cautioned against linking recent stock market fluctuations with the 2024 Lok Sabha elections.
At the close, Sensex was 17 points, or 0.02 per cent, higher at 73,895.54, while the Nifty 50 closed 33 points, 0.15 per cent , lower at 22,442.70.
The overall market capitalisation of BSE-listed firms dropped to nearly Rs 406.2 lakh crore from nearly Rs 408.5 lakh crore in the previous session.
The interest of FPIs in the Indian share market is surprising, because the profitability of Indian corporates is one of the lowest in the world; the combined net profit of BSE 500 companies in 2018-19 was US$ 63 billion, which is equivalent to 2.31 per cent of India's GDP, as against 6.1 per cent of the GDP in the US for the top 500 companies
Tech Mahindra, HCL Tech, Bajaj Auto and Power Grid were among the laggards.
The S&P BSE Sensex ended 37.38 points or 0.10 per cent lower at 38,369.63 levels. Kotak Bank was the top loser in the Sensex pack, skidding 2.10 per cent.
Maruti Suzuki was the top gainer on the BSE chart as it rose by 4 per cent. It was followed by Bharti Airtel, Axis Bank, IndusInd Bank and Bajaj Finance
On the other hand, ONGC, Tech Mahindra, PowerGrid, Infosys and Kotak Bank were among the laggards.