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.
Maruti, Bharti Airtel, Reliance, Titan, Ultra Cement, HUL and Tata Steel whereas IndusInd Bank, Wipro, Infosys, Asian Paints, Mahindra, HDFC, NTPC, Kotak Bank, SBI were among the laggards on the 30-share index.
Sensex traded at 57,253.40 points, down 845.52 points or 1.46 per cent, whereas Nifty traded at 17,043.90 points, down 283.45 points or 1.64 per cent.
At 9.21 am, Sensex traded at 59,705.32, down just 14.42 points or 0.024 per cent, whereas Nifty traded at 17,812.85 points, down 3.40 points or 0.019 per cent.
India's wholesale inflation declined further during the month of August to 12.41 per cent from 13.93 per cent the previous month but continues to remain in double digits, official data released on Wednesday showed.
Coming to the domestic indices, at 9.24 am, Sensex traded at 59,977.47 points, down 593.61 points or 0.98 per cent, whereas Nifty traded at 17,904.35 points, down 165.70 points or 0.92 per cent.
