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New Delhi: The Indian stock market fell sharply on Monday. The main reason for this was the crash of the Japanese stock market. However, the Japanese stock market showed improvement on Tuesday. In early trade, the Nikkei index (Nikkei 225) jumped by about 2 percent. Its effect was also seen on the Indian stock market today. Both major indices i.e. Sensex and Nifty opened with gains. Buying in IT stocks also supported the market.
The BSE Sensex rose 348.1 points to 84,647.88 in early trade. The NSE Nifty rose 96.75 points to 25,907.60. Out of the 30 Sensex companies, Tech Mahindra, Larsen & Toubro, State Bank of India, Bajaj Finserv, Infosys and Power Grid were the major gainers. Asian Paints, JSW Steel, Tata Steel and Titan saw a decline.
Asian markets rose in Tokyo. Meanwhile, South Korea, Hong Kong and Mainland Chinese markets are closed on Tuesday due to a public holiday. The Mainland will remain closed for the rest of the week due to a holiday. US markets closed in the green on Monday.
VK Vijayakumar, chief investment strategist at Geojit Financial Services
According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 9,791.93 crore on Monday. At the same time, domestic institutional investors (DIIs) bought shares worth Rs 6,645.80 crore.
Global oil benchmark Brent crude fell 0.29 per cent to $71.77 a barrel. On Monday, the BSE benchmark closed 1,272.07 points, or 1.49 per cent, lower at 84,299.78. During the day's trade, it fell 1,314.71 points, or 1.53 per cent, to 84,257.14. The Nifty fell 368.10 points, or 1.41 per cent, to 25,810.85.
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