Sensex rises 500 pts from day's low, Nifty near 22,650: Key reasons behind markets paring losses
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Benchmark indices Sensex and Nifty pared their losses on October 28 due to value buying.
- ✓The Sensex rose 500 points from the day's low, while Nifty traded near 22,650.
- ✓Analysts said, "Failure to move above 22,830 will signal extension of the last three sessions consolidation in the range of 22,370-22,830."
Story at a Glance
- Category
- MARKET
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Benchmark indices Sensex and Nifty pared their losses on October 28 due to various reasons, including value buying.
At 11:58 am, the Sensex was down 489.77 points or 0.67% at 73,108.90, and the Nifty was down 105.95 points or 0.47% at 22,643.80. About 1,723 shares advanced, 1,980 shares declined, and 170 shares were unchanged.
Key reasons behind markets paring losses
1) Value buying
Value buying emerged at lower levels as benchmarks fell up to 1.25% on October 28. Sensex rose 500 points from day's low while Nifty was near 22,650-mark.
2) FII buying
Foreign portfolio investors bought a net Rs 4,240 crore of Indian equities on Tuesday, their largest daily purchase in nearly two months, according to provisional NSE data. Domestic institutional investors were net sellers, offloading shares worth Rs 1,250 crore.
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Moneycontrol
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