India News | Markets Climb in Early Trade, Turn Volatile Later
Get latest articles and stories on India at LatestLY. Benchmark indices rallied in early trade on Monday amid positive cues from global markets and unabated foreign fund inflows, but later faced volatile trends.
Mumbai, Nov 14 (PTI) Benchmark indices rallied in early trade on Monday amid positive cues from global markets and unabated foreign fund inflows, but later faced volatile trends.
The 30-share BSE Sensex climbed 92.98 points to 61,888.02 in early deals. Similarly, the broader NSE Nifty advanced 44.4 points to 18,394.10.
However, later, both the benchmark indices turned volatile and were trading on a mixed note. The BSE benchmark quoted 35.7 points lower at 61,759.34, while the Nifty was trading 12.30 points higher at 18,362.
From the Sensex pack, Power Grid, Tata Steel, Kotak Mahindra Bank, HCL Technologies, Mahindra & Mahindra and UltraTech Cement were the major winners in early trade.
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Dr Reddy's, ICICI Bank, State Bank of India and ITC were among the laggards.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong were trading higher, while Tokyo quoted lower.
Wall Street had ended higher on Friday.
"The momentum in the market is evident in the 4 straight weeks of gains and FIIs turning buyers in all the last 11 trading days," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The BSE benchmark had zoomed 1,181.34 points or 1.95 per cent to settle at 61,795.04 on Friday. The Nifty rallied 321.50 points or 1.78 per cent to finish at 18,349.70.
International oil benchmark Brent crude was trading 0.43 per cent higher at USD 96.40 per barrel.
Foreign Institutional Investors (FIIs) were net buyers on Friday as they bought shares worth Rs 3,958.23 crore, as per exchange data.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)