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Share Market Open Tuesday: Today is the first day of the week. Greenery is visible in the stock market. Sensex started business with a jump of 137 points (60,829). At the same time, Nifty is also trading at 18,804 with a gain of 43 points. Let me tell you, despite a good start yesterday, the BSE Sensex fell 311.03 points to close at 60,691.54 points. Similarly, the NSE Nifty also lost 99.60 points to close at 17,844.60 points. Banking and IT stocks saw a decline yesterday. Heavyweight Reliance shares also declined. Whereas, shares of UltraTech Cement, HCL Tech, Mahindra & Mahindra gained momentum. Changes can be seen in the market today.
Can the game change today?
- Oil prices rose more than 1 percent on Monday. Brent crude rose $1.07, or 1.3 percent, to close at $84.07 a barrel. US West Texas Intermediate crude (WTI) for March, which expires on Tuesday, was last seen up 85 cents, or 1.1 percent, at $77.19.
- India’s domestic air traffic almost doubled in January compared to the same month last year. According to the data released by the Directorate General of Civil Aviation (DGCA) on February 20, the number of passengers increased to 125.42 lakh. However, domestic air traffic fell by 1.5 per cent in January as compared to the December 2022 reading, which stood at 127.35 lakh passengers. Air traffic is still below pre-Covid levels. Domestic airlines carried 127.83 lakh passengers in January 2020.
- In the previous session, the rupee had gained 10 paise to close at 82.73 per dollar. Weakness in the domestic equity market capped the rupee’s gains.
The low returns from the Indian stock market have put foreign investors in trouble. Due to this, he is also getting disillusioned. Its effect is visible on their investments. Their investment is continuously decreasing in the Indian market. According to a Morningstar report, foreign portfolio investors (FPIs) investment in domestic stocks declined to $584 billion at the end of December 2022, down 11 per cent year-on-year. This fall is largely due to low returns from Indian stocks and outflow of foreign funds from the domestic stock market.
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