Thursday, December 8, 2022

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Indian Stocks, Rupee Up Marginally In Early Trade

New Delhi [India]: BSE Sensex and the Nifty stalled three days of losses and rose marginally on Tuesday morning.

At 9.47 am, Sensex traded at 61,235.72 points, up 90.88 points or 0.15 per cent, whereas Nifty traded at 18,180.70 points, up 20.75 points or 0.11 per cent. 

“The weakness in the market is likely to continue in the near term. With the dollar index rebounding to above 108, FIIs may sell again or at least refrain from big buying. There are no positive triggers now that can take the market much higher from the current levels,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Vijayakumar added long-term investors can utilize the weakness in the market to buy high-quality stocks in banking, telecom, capital goods, IT and autos and blue chips across sectors.

On Monday, markets started the week on a feeble note and lost over half a per cent, in continuation to the previous session’s fall.

After the initial decline, Nifty traded in a narrow band till the end and settled closer to the day’s low at 18,159.95 levels. 

Most sectoral indices traded in line with the benchmark and ended lower wherein realty, IT and energy were the top losers.

Meanwhile, Rupee too opened Tuesday’s trade marginally higher at 81.72 against the previous session close of 81.84. 

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