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Benchmark equity indices BSE Sensex and Nifty50 were flat with marginal gains at open on Tuesday.
Stock Market Today
Sensex Today: Benchmark equity indices BSE Sensex and Nifty50 were flat with marginal gains at open on Tuesday.
Indian stock markets ended an 8-day losing streak on Monday, February 17, closing slightly positive despite continued selling by foreign institutional investors (FIIs). FIIs net sold Indian equities worth Rs 3,937.83 crore on the day, while domestic investors net bought shares worth Rs 4,759.77 crore.
Finance Minister Nirmala Sitharaman explained that the recent profit-booking by foreign investors can be attributed to the strong returns currently being generated by the Indian economy. At a post-Budget press conference, she emphasized that India is focused on becoming an investor-friendly destination.
The government has implemented several measures in recent years to rationalize customs duties, aiming to boost investor confidence.
“FIIs tend to exit when they are in a position to book profits. Today, the Indian economy offers an environment where investments are yielding good results, prompting this profit-booking activity,” Sitharaman stated.
Global Cues
As of 9:06 a.m. Tokyo time, global equity markets showed a mixed performance, with some major indices experiencing modest gains while others saw slight declines. S&P 500 futures rose by 0.1%, indicating a positive but cautious start to the trading day for U.S. markets. Similarly, Hang Seng futures gained 0.3%, reflecting optimism in the Hong Kong stock market. Japan’s Topix saw a more notable rise of 0.4%, driven by positive sentiment in the local equity market. However, Australia’s S&P/ASX 200 index saw a decline of 0.4%, reflecting weaker investor sentiment in the Australian market. In Europe, Euro Stoxx 50 futures rose by 0.6%, signaling a positive outlook for the European markets as they prepared to open. Overall, the mixed performance across different regions highlights varying investor sentiment globally, with some markets benefiting from optimism, while others face challenges that dampen their growth potential.
