Sensex regains 61,000 level as market rallies for second straight day
As per market experts, foreign institutional investors (FIIs) turning net buyers for the first time in the calendar year on January 17 was a major contributor to the surge.
Published: 19th January 2023 07:11 AM | Last Updated: 19th January 2023 07:11 AM | A+A A-
Image used for representational purpose only. (Express Illustrations)
NEW DELHI: India’s equity market gained for the second consecutive session on Wednesday with strong buying seen across the metal and financial stocks. At Wednesday’s closing, the BSE Sensex rose 0.64% to surpass the 61,000 level at 61,046, while the NSE Nifty50 closed 0.62% higher at 18,165. With the two-day rally, benchmark indices are now at their highest levels in two weeks. Nifty and Sensex had gained about 1% each on Tuesday.
As per market experts, foreign institutional investors (FIIs) turning net buyers for the first time in the calendar year on January 17 was a major contributor to the surge. FIIs purchased shares worth Rs 211 crore on a net basis on Tuesday (Jan 17). However, on Wednesday, they again turned sellers as they sold shares worth Rs 319 crore on a net basis. So far in CY23, FIIs outflow from the Indian equity market stands at about $2.5 billion.
“The notable feature of market action over the first half of January has been muted market volumes, despite elevated institutional activity – FIIs have been net sellers worth $2.5 billion in January so far.
