Sensex Ends 665 Points Higher; IT And Energy Stocks Witness Buying

Indian share markets continued their momentum during closing hours and ended the day on a strong note. Gains were largely seen in the IT sector and energy sector.

At the closing bell, the BSE Sensex stood higher by 665 points (up 1.9%) and the NSE Nifty closed higher by 179 points (up 1.7%). The BSE Mid Cap index closed up by 0.4%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 1.1% and the Nikkei was trading up by 1%. The Shanghai Composite stood higher by 0.4%.

European markets were also trading on a positive note. The FTSE 100 was up by 0.5%. The DAX was up by 0.1% while the CAC 40 was up by 0.3%.

The rupee was trading at 71.13 to the US$ at the time of writing.

While stock markets witnessed buying interest today, volatility in the markets has been on a constant rise lately.

But there's an interesting trend seen in regard to retail investors this time.

Till date in FY18-19, foreign investors have pulled out around Rs 515 billion from the Indian equity market.

In the past, such panic would have meant the domestic investor would have followed suit.

That hasn't happened this time.

Domestic investors have shown surprising resiliency to the market's volatility.

Here's what Tanushree Banerjee wrote about this in today's edition of The 5 Minute Wrap Up...

  • The month-wise SIP in FY18-19 has seen a constant rise.

    Also, close to 1 million new SIP accounts have been added during FY18-19 according to AMFI.

    The days of knee-jerk panic withdrawals by individual investors are slowly but surely reducing. If they ride out this volatility they will see the benefit of the cycle turning in their favor.

Rising Retail Particpation Even In A Falling Market

 

This trend will mark a significant change in the mindset of the retail investor for the long term.

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