Indian Stock Market Sees Slight Dip as Profit Booking Continues
New Delhi [India], October 1: Indian stock indices experienced a slight decline on Tuesday due to ongoing profit booking, marking the third consecutive session of losses. Sensex closed at 84,266.29 points, down 33.49 points or 0.040 per cent, while Nifty ended at 25,796.90 points, down 13.95 points or 0.054 per cent.
Top Movers and Losers
Tech Mahindra, Mahindra and Mahindra, Britannia, Infosys, and Adani Enterprises were the top five gainers among the Nifty 50 stocks. On the other hand, Indusind Bank, ONGC, Asian Paints, Bajaj Auto, and Tata Steel were the top five losers.
Expert Insights
Rakesh Vyas, Co-Chief Investment Officer & Portfolio Manager at Quest Investment Advisors, commented, “Rate cuts across major geographies will continue to drive higher liquidity in the system and hence foreign capital will find avenues across most economies where growth remains strong.” He added that India’s projected corporate earnings growth remains attractive to investors.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the hoped-for recovery in the Chinese economy has triggered significant fund flows into Chinese stocks, which has delivered substantial returns in recent days. However, he cautioned that it remains to be seen how long this trend will last.
Foreign Investments
Foreign portfolio investments in the Indian stock market remained positive for the fourth consecutive month through September, providing some support to the indices despite the recent slump.
Doubts Revealed
Stock Market -: The stock market is a place where people buy and sell shares of companies. It’s like a big marketplace for company ownership.
Profit Booking -: Profit booking means selling shares to make a profit. People do this when they think the price might go down soon.
Sensex -: Sensex is a number that shows how well the top 30 companies on the Bombay Stock Exchange (BSE) are doing. It’s like a report card for big companies.
Nifty -: Nifty is similar to Sensex but it shows the performance of the top 50 companies on the National Stock Exchange (NSE).
Tech Mahindra -: Tech Mahindra is a big Indian company that works in information technology and business solutions.
Infosys -: Infosys is another large Indian IT company that provides software and consulting services.
Indusind Bank -: Indusind Bank is a private bank in India that offers banking and financial services.
Tata Steel -: Tata Steel is a big company in India that makes steel, which is used in buildings, cars, and many other things.
Global Rate Cuts -: Global rate cuts mean that central banks in different countries are lowering interest rates to make borrowing cheaper and boost the economy.
Foreign Investments -: Foreign investments are when people or companies from other countries put their money into Indian businesses or stocks.