MUMBAI: Indian markets are trading higher today on the back of positive gains of the previous session. The major indices crossed their opening levels and are further reach supported by encouraging funds flows and consistent corporate earnings.
Key Takeaways:
Indicies Up: Sensex adds past 300 at + 80,500; Nifty 50 + 100 to cross 24,400 pointers
Positive Sentiment: Rise in market fare next followed by the jump observed on Monday
FIIs and DIIs net buyers: Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) were heavy net buyers on Monday (FIIs: ₹2,474 Cr, DIIs: ₹2,817 Cr).
Top Line: Ongoing Q4 Corporate Earnings season is where the sentiment is coming from.
Sector Performace: Buying is there in Banks, Industrial stocks.
Global Signals: Mixed signals from outside are being watched but presently domestic factors are paramount.
Also check:- Daily Market Wrap-Up
As of now (at 11:00 am on April 29th), the S&P BSE Sensex was trading in its usual bullish zone beyond 80,500 with more than 300 points already added. On the broader NSE Nifty 50 index, it shot past 24,400 level and rose above 100 points. The stock market surged on positive afterglow from Monday’s rally.
Market analysts say the current enthusiasm is largely due to the ongoing support from Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs). According to BSE data, FIIs were in net buy mode for Indian equities for the third straight week at ₹2,474.10 crore on Monday; DIIs also put in fresh funds of ₹2,817.64 crore. These consistent inflows have been a significant support for the market.
The market, alongside heavy and supportive fund flows is reacting to the fourth-quarter corporate results season that is ongoing. Global signals are half positive but many remain jumbled— international trade tariffs are expected to remain an issue, nonetheless it feeds positive earnings reports from multiple companies that the investors have confidence. Other sectors like banking and a few industrials also has some amount of buying interest. Today, market participants are also focused — earnings announcements are coming out in droves with biggies such as Bajaj Finance and BPCL releasing their quarterly results today which are likely to drive both sectoral movements and the overall market. The market has also demonstrated resilience with regard to geopolitical developments too.
