Retail Investors Propel Nifty Amid Foreign Sell-Off

Despite ongoing sell-off by foreign investors, retail buyers buoyed Indian stock markets on Tuesday. The Nifty index opened with a slight decline while Sensex saw a minor gain. Experts highlight a shift in investor trends, with retail buying balancing the foreign sell-off tide.

Indian stock markets experienced a steady opening on Tuesday, as persistent foreign investor sell-offs cast a shadow over the trading session. Even after Monday's sell-off amounting to Rs 3,228 crore by foreign investors, both indices managed to register gains.

Experts pointed to the role of retail investors in outbalancing the foreign sell-off, contributing to a positive trend. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, emphasized the interesting aspect of Monday's 158-point rally in the Nifty index, attributing it to retail buying despite significant foreign sell-offs.

Sectoral indices showed mixed reactions, with Nifty Auto, FMCG, IT, and Metal opening lower, while others saw an uptick. In the Nifty 50, 15 indices began the day in positive territory, led by NTPC, BEL, and ICICI Bank, while HDFC Life and others dragged behind. The week unfolded with key financial announcements anticipated from major firms like Maruti Suzuki and Adani Enterprises, setting the stage for market fluctuations.

Globally, Asian markets exhibited varied movements. Japan's Nikkei surged by 0.55%, and Hong Kong's Hang Seng increased by 1%. Conversely, Taiwan's Weighted index fell 1.72%, and South Korea's KOSPI declined marginally.

(With inputs from agencies.)