Business News Live: Stock Markets Reverse Rally, Sensex Below 73K, Nifty Tests 22K

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The stock markets started the week by reversing in the early morning trade. Both the key equity benchmarks slid in the morning, with the BSE Sensex slipping about 121.20 points to touch 73,021.60.

As the trading session started, markets continued to showcase the same sentiment and declined further. As of 10:05 AM, the BSE Sensex dropped almost 300 points to trade below the 73K mark at 72,853.60, while the NSE Nifty50 tested the 22K level and traded at 22,131.20, down by 81.50 points.

The markets exhibited volatility last week, however, maintained an upward trend. In the last trading session on Friday, the Sensex and Nifty pared their gains and closed flat amid profit booking in the second half of the trading session. The BSE Sensex settled at 73,143, 15 points down, while the NSE Nifty50 closed the session at 22,213, down 5 points.

Official data from the depositories revealed that foreign portfolio investors (FPIs) poured in over Rs 18,500 crore in the debt markets in India in February, as of last Friday. However, the investors remained cautious about Indian equities and dumped equities worth Rs 424 crore during the reporting period. 

Providing an insight on the market movements, Kislay Upadhyay, smallcase Manager and Founder, Fidelfolio, said, “With introduction of India in global bond indices this year, Indian debt inflows should get steady flows going ahead. Also, further front-loading before actual inclusion in June this year is also expected.  This is also in line with long-term aim to deepen our underdeveloped debt-markets.” With the investment of Rs 18,589 crore in the debt markets, the overall FPI influx in the segment crossed Rs 38,426 crore in 2024. Further, investors will keenly observe the quarterly GDP numbers for India and the US, scheduled to be released in the latter half of the week.