Indian Shares Flat as Foreign Outflows Offset IT Gains
The Nifty 50 and Sensex traded flat on Monday morning as record foreign outflows and rising crude prices dampened early momentum. While IT stocks and textile makers gained on positive earnings and duty cuts, broader market sentiment remained cautious following a significant sell-off in the previous session.
Xurve View
Insights:
Xurve View
Indian benchmarks surrendered early gains on Monday morning as record foreign outflows and rising energy costs pressured sentiment. The Nifty 50 fell 0.04% to 23,538.20 while the BSE Sensex remained flat at 74,780.64 after both indices rose 0.7% at the open as of 10:30 a.m. IST. The current market setup favors a sell-on-rise approach with stock-specific opportunities expected to outperform until directionality emerges.
