Share market today open sensex and nifty is started doing business on Monday 6 February 2023 | The market saw a decline on the first day of the week, the Sensex opened with a weakness of more than 200 points.

Share Market Sensex and Nifty: Today the stock market has started on average. Sensex started trading at 60,634 points with a fall of 207 points. Same is the condition of Nipti, it is also doing business in red mark. With a decline of 7 points, it is at 18,778. Let me tell you, on Friday, the last day of the market last week, the BSE Sensex jumped 909.64 points to close at 60,841.88 points. At the same time, the NSE Nifty also managed to close in the green due to the good momentum. The Nifty closed at 17,854.05 with a gain of 243.65 points.

Sensex opens with a loss of more than 200 points

Foreign investors are not liking the Indian stock market

Foreign portfolio investors (FPIs) pulled out Rs 28,852 crore from Indian stock markets in January, according to data from depositories. This is the highest figure of FPI withdrawal in the last seven months. Earlier in December, FPIs had infused Rs 11,119 crore in stocks. In November, he had invested Rs 36,238 crore in the stock markets. Shrikant Chauhan, head of equity research (retail), Kotak Securities, said going ahead, FPI inflows will remain volatile as the Indian market is underperforming compared to other markets. According to the data, FPIs pulled out a net Rs 28,852 crore from equities in January. This is the highest figure of FPI withdrawal since June 2022. At that time he had withdrawn Rs 50,203 crore from the shares. FPI outflows from equities have crossed Rs 5,700 crore in the first week of February, following January’s exit.

Impact on Indian stock market

VK Vijayakumar, chief investment strategist, Geojit Financial Services, said FPIs are selling in India and buying in cheaper markets like China, Hong Kong and South Korea as valuations are attractive there. The strategy of FPIs to move to other cheap markets has weakened the performance of Indian markets. So far this year, markets in China, Hong Kong and South Korea have grown by 4.71 per cent, 7.52 per cent and 11.45 per cent, respectively, while India has declined by 1.89 per cent. Himanshu Srivastava, associate director-manager research at Morningstar India, said FPIs took a cautious stance ahead of the general budget and the US central bank meeting. Interestingly, both indicators remained positive afterwards. As per the data, FPIs have infused Rs 3,531 crore into the debt or bond market during that period. Let us tell you, ever since Hindenburg’s report against Adani Group has come, their shares are also falling rapidly. The market capitalization of the company has come down to Rs 1 lakh crore.

Latest Business News