Business

Indian Indices Surge As IT Results Impress & FII Activity Soars

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.

Also Read: India’s Resilient Growth Continues As Forex Reserves Hit Record High

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.

Also Read: Surge In Mutual Fund Inflows Through New Fund Offers In June

Mankrit Kaur

Recent Posts

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

5 hours ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

8 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

8 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

9 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

10 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

10 hours ago