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MUMBAI: Rising for the fifth consecutive session, the sensex closed 936 points up at 56,486 amid waning intensity of foreign funds sell orders. With IT, FMCG and financials leading, the sensex has added n early 3,650 points since its seven-month closing low of 52,843 on March 7.
The day’s gains came as there were r eports about progress in diplomat-level talks between Russia and Ukraine to broker a cease fire for the three-and-half-week-old war that has pushed the global economy into a new uncertain zone, market players said.
However, fresh Covid-induced lockdown in China has pushed global investors to turn cautious. They’re also waiting for the US Federal Reserve to decide on raising interest rate in the world’s largest economy for the first time in over two years la ter in the week, analysts said.
The day’s rally came despite net selling by foreign funds. However, official data showed that the day’s net outflow figure was Rs 177 crore, one of the lowest single-session outflow figures in recent weeks. So far in 2022, foreign funds have net sold stocks worth over Rs 1 lakh crore, CDSL and BSE data showed.
The day’s gains came as there were r eports about progress in diplomat-level talks between Russia and Ukraine to broker a cease fire for the three-and-half-week-old war that has pushed the global economy into a new uncertain zone, market players said.
However, fresh Covid-induced lockdown in China has pushed global investors to turn cautious. They’re also waiting for the US Federal Reserve to decide on raising interest rate in the world’s largest economy for the first time in over two years la ter in the week, analysts said.
The day’s rally came despite net selling by foreign funds. However, official data showed that the day’s net outflow figure was Rs 177 crore, one of the lowest single-session outflow figures in recent weeks. So far in 2022, foreign funds have net sold stocks worth over Rs 1 lakh crore, CDSL and BSE data showed.
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