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Sensex Crosses 41,000-Mark; Nifty Opens Over 12,120 Levels : 26 Nov 2019

Capitalstars Investment Advisor
Asian share markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.1% while the Hang Seng is down 0.1%. The Nikkei 225 is trading up by 0.6%. Each of Wall Street's three major averages kicked off the trading week with record closes on Monday as signs pointed to progress between the United States and China on a trade truce, while a round of merger deals also helped buoy sentiment.

Back home, India share markets opened higher with the benchmark indices touching fresh record highs. The BSE Sensex is trading up by 190 points while the NSE Nifty is trading up by 52 points. The BSE Mid Cap index and BSE Small Cap index opened up by 0.5% and 0.3% respectively.

Barring telecom stocks, all sectoral indices have opened the day in green with metal stocks, oil & gas and IT stocks witnessing buying interest.

The rupee is currently trading at 71.67 against the US$.

In the news from the financial markets. Foreign portfolio investors (FPIs) are pouring money into the domestic market at an unprecedented pace. The net investment by overseas investors into the equities cash segment has topped US$6 billion (Rs 440 billion) in the past two months.

The rolling two-month FPI flows into the domestic market currently is the highest since May.

The sharp flows have helped the benchmark Sensex and the Nifty surge 13% in just two months.

The earnings-boosting move of lowering corporation tax rates in September, coupled with easing monetary policy globally, are seen as the reasons for sharp inflows into domestic equities.

Sometime ago, the fall in stock markets indicated the impact of FPIs.

FPIs had been pulling out money since quite some time.

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