Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started Monday’s session moving between gains and losses. S&P BSE Sensex rose 250 points to breach 54,600 while the NSE Nifty 50 index was above 16,300. Soon the indices trimmed gains and turned red, only to once again soar higher. Bank Nifty rose 0.60% while India VIX was in green, sitting above 23 levels. Maruti Suzuki India was the top gainer, up 4%, followed by Mahindra & Mahindra, and Asian Paints. Tata Steel nosedived 10% while ITC was down 1.8%.
The outflow of funds from domestic markets has continued as Foreign Portfolio Investors (FPI) remain net sellers. So far in the month of May, FPIs have pulled out Rs 37,216 crore as headwinds such as tighter monetary policy and rising inflation force investors towards safer havens. With this, net outflow by FPIs from equities has reached Rs 1.65 lakh crore so far in 2022. “The major factor behind the relentless FPI selling is the appreciation of the dollar which has taken the dollar index above 103. Also, India is the major emerging market where FPIs are sitting on big profits and the market is very liquid to absorb FPI selling,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services. He added that FPI selling is likely to continue.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates