Indian Stock Investors Witnesses Jump After Success Of G20 Summit

Indian stock trade indicators on Monday started on a firm note, taking cues from the overall successful G20 Summit in New Delhi.

Sensex and Nifty were 0.3-0.4% higher from their Friday close of 66,861.16 points and 19,910.10 points, with all sectoral indices in the green. Last week, Indian stocks ended at a high to log their best week in over two months.

It is anticipated that announcement of the ambitious rail-port economic corridor deal to connect India-Middle East-Europe, the launch of Global Biofuel Alliance on the summit sidelines, and the consensus on the New Delhi declaration by all G20 member countries has attracted the investors to bet in the market.

As per details, companies involved in railways, ports and infrastructure has been on raise today.

Furthermore, the foreign portfolio investors (FPIs) continuing to be net buyers in Indian stock markets for the sixth consecutive month until August supported market sentiment. The data claims that they have bought equity assets worth ₹1.31 lakh crore cumulatively in 2023.  

Going forward, August inflation data in India and the US, expected to be released on Tuesday and Wednesday are likely to be the next market trigger for fresh cues.

Apart from this, retail inflation in India rose sharply in July to 7.44% and in the process breached RBI’s 6% upper tolerance target, largely due to a sharp spurt in vegetable, fruit, and pulses prices.