Indian stock indices start fresh week largely steady

New Delhi [India], July 31 : Markets on Monday morning opened flat with Sensex at 66, 226. 32 up by 0.038 per cent while Nifty opened at 19,662.15 up by 0.075 per cent.

Out of Nifty companies, 28 were seen in green and 21 were in red.

NTPC, TATA Steel, JSW Steel, Power Grid and Adani Ports were the top gainers and Apollo Hospital, HDFC Life, Asian Paint, Britannia and Cipla were the top losers.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “India’s strong performance is aided also by the superior performance of the Indian economy. Incoming data suggests that these fundamental supports to the markets are set to continue”.

“In the US, there are indications of inflation continuing on the downward trend while the economy is showing resilience. The winning streak of US markets has been continuing for the 3rd week for the Dow and 5th week for Nasdaq,” said Vijaykumar.

“In India even though the underlying strength of the market is strong, FPI selling of Rs 5000 crores during the last two trading sessions might restrain the bulls. Market heavyweights RIL, HDFC Bank, ICICI Bank, L & T and ITC are on strong wicket”, said Vijaykumar.

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