Indian stock indices rallied for the third straight session on Monday, closing higher by nearly 1% on gains in IT, private banks and capital goods shares.
Foreign institutional investors (FIIs) on Monday even sold stocks of Indian companies ₹8,291.34 crore and bought stocks for ₹7,741.97 crore, resulting in an outflow ₹549.37 crore, according to NSE data.
FIIs unloaded the value of equities ₹12.43 crore on Friday, according to exchange data.
Domestic institutional investors (DIIs) bought equity value ₹8,311.28 crore and unloaded share value ₹7,715.58 crore, leaving an inflow of ₹595.70 crore, the exchange data showed.
The 30-share BSE Sensex jumped 594.91 points, or 0.92%, to settle at 64,958.69. During the day, it rose 628.76 points, or 0.97%, to 64,992.54.
The broader Nifty of the National Stock Exchange climbed 181.15 points, or 0.94%, to 19,411.75.
In the three sessions till Monday, Sensex has rallied around 1,367 points and Nifty by 422 points to trade above 19,400 level.
In the broader market, the small-cap gauge BSE jumped 1% while the mid-cap index gained 0.90%.
Among the indices, capital goods rose 1.68%, metals jumped 1.64%, industrials (1.42%), utilities (1.39%), commodities (1.38%), oil and gas (1.33%), energy (1.27% ), realty (1.19%). %), bankex went up 0.74% and auto (0.65%).
Consumer durables emerged as the only laggard.
The Indian rupee ended 7 paise higher against the US dollar on Monday following sharp gains in Asian currencies following a fall in US treasury yields.
At the interbank foreign exchange market, the local unit opened at 83.17 and touched a low of 83.24 against the greenback.
The results of the United States treasury and the dollar retreated after data released on Friday indicated that the labor market in the world’s largest economy was cooling, confirming expectations that the Federal Reserve has hiked rates.
India’s foreign exchange reserves increased by $2.579 billion to $586.111 billion in the week ended October 27, the Reserve Bank of India said on Friday.
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Updated: 06 November 2023, 06:56 PM IST
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