Business Desk- Share Market Update: There is a rise in the share market today i.e. on 16th October. Sensex is trading above 74,500 after rising 270 points. At the same time, Nifty has also reached near 23,100 with a gain of about 100 points. There is buying in IT and media stocks in the market, while selling is being seen in FMCG stocks.
Amidst the rise in the Indian market, Asian markets are also on the rise. South Korea’s Kospi is up 3.37%, Japan’s Nikkei is up 1.75% and Hong Kong’s Hang Seng is up 1.18%. Earlier on Thursday, October 15, the American stock markets had also closed with gains.
However, selling by foreign investors remains a concern for the market. According to the data, foreign institutional investors (FIIs/FPIs) have sold shares worth Rs 10,157 crore in the last 7 days. On the other hand, domestic institutional investors (DIIs) have made net purchases of Rs 11,474 crore in the same period.
Sensex rises 270 points, Nifty near 23,100
Buying trend is being seen in the stock market on Friday. Sensex is trading beyond 74,500 with a gain of 270 points. Nifty is also up by about 100 points and has reached near the level of 23,100.
Sector wise, buying is taking place in IT and media stocks. On the contrary, there is selling pressure in FMCG stocks. That is, despite the boom in the market, shares of all sectors are not showing the same movement.
There may be fluctuations in the market during the day’s trading. Further movements in Sensex and Nifty will depend on buying and selling by investors along with domestic and global cues.
Asian markets rise, Kospi rises 3.37%
Along with the Indian market, major stock markets of Asia are also witnessing a rise. South Korea’s Kospi index rose 186 points, or 3.37%, to 5,726.
Japan’s Nikkei index is trading at 65,410 with a gain of 937 points or 1.75%. At the same time, Hong Kong’s Hang Seng index increased by 285 points or 1.18% to reach 24,347.
The rise in Asian markets reflects the positive trend of global stock markets. However, the reason for the rise or fall in the markets of different countries may be different. Therefore, the growth of Asian markets cannot be considered the only reason for the rise in the Indian market.
American market also remained bullish yesterday
On Thursday, October 15, the major indices of the US stock market closed with gains. The Dow Jones index rose 556 points, or 1.08%, to 52,178.
The Nasdaq index of technology shares stood at 26,713 with a gain of 20 points or 0.08%. At the same time, the S&P 500 index rose 25 points or 0.33% to 7,744.
The rise in US markets gives an idea of the attitude of global investors. However, the impact of American market movements on the Indian stock market is not the same every trading day.
FIIs sold shares worth Rs 10,157 crore in 7 days
Selling by foreign investors continues amid the boom in the stock market. According to the data, foreign institutional investors i.e. FIIs/FPIs have made a net sale of Rs 10,157 crore in the last 7 days. Their net sales in the last 30 days stood at Rs 89,516 crore.
In the latest trading data, foreign investors made a net sale of shares worth Rs 5,285 crore. Despite selling by foreign investors, domestic institutional investors are buying in the market.
Domestic investors bought shares worth Rs 11,474 crore in 7 days
Domestic institutional investors i.e. DIIs have made net purchases of Rs 11,474 crore in the last 7 days. Their net purchases in the last 30 days stood at Rs 96,279 crore. In the latest trading data, DIIs made net purchase of shares worth Rs 3,319 crore.
In this way, while foreign investors are selling in the Indian market, domestic institutional investors are supporting the market through buying. However, these figures from investors do not guarantee the future direction of the market.
The stock market was booming yesterday
On Thursday, October 15, a rise was recorded in the Indian stock market. Even today i.e. on 16th October, a rise is being seen in Sensex and Nifty. Buying in IT and media stocks is supporting the market, while selling in FMCG stocks continues.
The rise in global markets and buying by domestic institutional investors are positive signs. On the other hand, continuous selling by foreign investors remains a cause of pressure for the market.