Indian benchmark indices kicked off the week with a significant surge, driven by impressive quarterly results from the IT sector and robust activity from foreign institutional investors (FIIs), signaling renewed investor confidence and optimism in the market.
The Sensex surged by approximately 160 points, reaching the 80,674 mark, while the Nifty gained nearly 40 points, settling at 24,540.
This positive momentum reflects growing confidence among market participants.
A standout performer was HCLTech, whose shares climbed nearly 5% following impressive quarterly earnings, indicating robust demand and operational efficiency.
Similarly, Zomato’s shares opened higher after the food delivery service announced an increase in platform fees, suggesting strong growth prospects in the competitive landscape.
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Market analysts noted that global factors continue to support India’s market rally.
However, experts advise caution as many momentum stocks approach excessive valuations, raising concerns about sustainability.
On 11 July, FIIs emerged as net buyers, purchasing equities worth Rs 4,021 crore, while domestic institutional investors (DIIs) took a step back, offloading shares worth Rs 1,651 crore.
This divergence in investor behavior highlights a complex market environment that requires careful navigation.
Overall, the positive opening reflects a mix of strong earnings and supportive foreign inflows, setting a hopeful tone for the trading week ahead.
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