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Indian Equity Benchmarks Rise Amid Optimism on US-India Trade Negotiations

Strategic Insights

— 2 min read

Indian equity benchmarks made a positive start on Monday, with the BSE Sensex and CNX Nifty trading in the green, as traders remain optimistic about the ongoing US-India trade negotiations. The two nations are reportedly 'very near' to concluding the proposed bilateral trade agreement, with both sides converging on most of the issues. The positive sentiment was further boosted by healthy buying in all sector indices led by Realty, Energy, and Metal, as well as foreign fund inflows. Foreign institutional investors (FIIs) were net buyers of shares worth Rs 621.51 crore on Friday, and India's forex reserves increased by $4.49 billion to $702.28 billion for the week ended October 17.

Key Takeaways:

  • The BSE Mid cap index rose 0.67%, while Small cap index was up by 0.50%, driven by buying in sector indices like Realty, Energy, and Metal.
  • The top gaining sectoral indices on the BSE were Realty up by 1.50%, Energy up by 1.24%, Metal up by 1.17%, Oil & Gas up by 1.15%, and Telecom up by 0.87%.
  • Reliance Industries was the top gainer on the Sensex, up by 1.94%, followed by Bharti Airtel up by 1.85%, Tata Steel up by 1.81%, Tata Motors Passenger Vehicles up by 1.43%, and HDFC Bank up by 1.06%.
  • Foreign institutional investors (FIIs) were net buyers of shares worth Rs 621.51 crore on Friday, contributing to the positive sentiment.
  • India's forex reserves increased by $4.49 billion to $702.28 billion for the week ended October 17.

Statistics:

  • BSE Sensex rose 0.56% to 86,484.34, with 21 stocks advancing against 9 stocks declining.
  • CNX Nifty rose 0.55% to 25,935.85, with 37 stocks advancing against 13 stocks declining.
  • Foreign fund inflows worth Rs 621.51 crore on Friday.
  • India's forex reserves increased by $4.49 billion to $702.28 billion for the week ended October 17.
  • BSE Mid cap index rose 0.67%.
  • BSE Small cap index was up by 0.50%.

Sources:

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