Stocks rise again on second day

MUMBAI: Mahindra & Mahindra, Infosys, Tata Consultancy Services, and Reliance Industries all saw their stock prices rise as of Monday, helping benchmark equity indices in Mumbai prolong their rally from the previous day. This surge was unaffected by the sluggish trend in the international markets.

However, ongoing outflows of foreign funds prevented markets from recording a significant rebound. To end the day at 65,953.48 the 30-share BSE Sensex gained 232.23 points, or 0.35 percent.

It increased by 346.65 points, or 0.52 percent, to 66,067.90 over the day. To finish at 19,597.30, the NSE Nifty increased 80.30 points or 0.41 percent.

Mahindra & Mahindra, the largest gainer from the Sensex pack, increased by more over 4%.

The other top gainers were ICICI Bank, Sun Pharma, Bajaj Finserv, Tata Consultancy Services, Infosys, Hindustan Unilever, JSW Steel, Wipro, Maruti, HCL Technologies, and Tech Mahindra.

The backwards companies included State Bank of India, Tata Motors, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Tata Steel, Nestle, and HDFC Bank.

Tokyo finished higher on Asian markets, but Seoul, Shanghai, and Hong Kong finished lower.

European stock markets were trading in the red.

The US stock markets fell on Friday.

Benchmark Brent crude fell 0.73 cents per barrel to USD 85.63 per barrel.

According to exchange statistics, foreign institutional investors (FIIs) sold shares of stock on Friday totaling Rs 556.32 crore.

Foreign investors become net sellers and withdrew more than Rs 2,000 crore from Indian shares in the first week of August after five months of consistent buying.

The BSE benchmark rose 480.57 points or 0.74 percent on Friday to close at 65,721.25 after three days of fall. To finish at 19,517, the Nifty gained 135.35 points, or 0.70 percent.