INDIA - Mumbai's stock market began today on a strong note, with the BSE Sensex climbing 128.76 points to reach 66,098.80 and the Nifty rising 53.35 points to 19,848.05, driven by robust foreign fund inflows. However, the initial surge gave way to volatility, leading to more modest gains as the session progressed.
The domestic equity markets had been closed on Monday in observance of Guru Nanak Jayanti, following a bullish Friday where Foreign Institutional Investors (FIIs) made significant equity purchases totaling ₹2,625.21 crore (INR100 crore = approx. USD12 million). This influx of foreign capital set a positive tone for the week.
Today's market movement saw a mix of performances among leading stocks. Notable gainers included Titan, UltraTech Cement, Bajaj Finserv, Wipro (NYSE:WIT), and Tata Motors (BO:TAMO) (NYSE:TTM). On the other hand, technology firm HCL Technologies and conglomerate Reliance Industries experienced declines.
In the broader Asian market, Seoul and Shanghai enjoyed gains, while Tokyo and Hong Kong faced losses. The mixed performance in Asian markets paralleled the modest volatility in the global oil markets, with Brent crude oil prices slightly up at $80.21 per barrel. This followed a marginal downturn in US markets the previous day, which closed with negligible losses.
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