Indian stocks on US exchanges surge as Exit Polls indicate big win for BJP
The surge in stock prices in India fueled by the Exit Polls showing a big win for the BJP has carried on to the stocks of Indian companies trading in the US.
The surge in stock prices in India fueled by the Exit Polls showing a big win for the BJP has carried on to the stocks of Indian companies trading in the US.
Foreign portfolio investors (FPIs) have sold assets worth about Rs 15,828 crore in Indian stock markets so far in 2023
A substantial reduction in both retail and wholesale inflation in the nation prevented the indices from falling much, though.
The marginal rise in indices for the second day can be partly attributed to the moderation in both retail and wholesale inflation in India.
BSE Sensex fell 176 points to 59,781.42 and the NSE Nifty 50 fell 55 points to 17,826.45 points.
At 9.35 am, the Sensex was up 581.64 points or 0.97 percent, trading at 60,541.49 points, while the Nifty was up 173.40 points or 0.97 percent, at 17,960.20 points.
Among the stocks, Coal India, ONGC, Bajaj Auto, Reliance Industries, and NTPC were the top five gainers among the Nifty 50 basket.
At 9.42 am, Sensex traded at 59,854.76 points, up 23.10 points or 0.039 per cent, whereas Nifty traded at 17,749.35 points, up 18.60 points or 0.10 per cent.
Meanwhile, the rupee has retreated from its all-time low of over 83 against the US dollar.
Paytm, Starhealth and Ambuja Cements. The laggards were Bajaj Finance, Adani Ports, Asian Paints and HDFC Bank on the 30-share index.
