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Image Source : FILE Stock exchange building
The BSE Sensex rose by 30.99 points to end Tuesday’s trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
The rupee remained relatively steady, closing at 83.11 against the US dollar, slightly unchanged from its previous session’s close at 83.13.
In Asian markets, signs of resilience were evident as several indices recorded gains following a surge in tech stocks on Wall Street. Global investors are closely monitoring the upcoming US inflation data, a pivotal factor influencing the Federal Reserve’s decisions regarding interest rates.
Meanwhile, oil prices faced a significant decline, marking the most substantial drop in about a month, influenced by indications of a weaker physical market, including a substantial pricing cut by leading OPEC member Saudi Arabia. Conversely, gold prices saw an uptick on Tuesday after hitting a three-week low, benefiting from a slight retreat in the dollar.
Foreign institutional investors (FIIs) were net buyers of Indian shares worth Rs 160.30 million on Monday, while domestic investors purchased a net Rs 1.56 billion worth of shares. Notably, December witnessed a record high in monthly FPI buying in Indian equities.
Investor attention remains focused on crucial economic indicators such as retail inflation, factory production data, and the upcoming corporate earnings reports from major IT players like TCS, Infosys, and Wipro, scheduled for later this week.
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