Sensex rises 94.84 points, Nifty nears 24,600 on foreign buying
Business
Sensex and Nifty both climbed on Monday morning, with the Sensex up 94.84 points or 0.12% at 78,594.01 and the Nifty close to 24,600.
The mood was positive thanks to a weaker-than-expected US jobs report that eased fears of a near-term Federal Reserve rate hike and a wave of foreign investor buying.
More stocks were rising than falling.
Foreign investors poured $1.36B into India
A softer US jobs report eased worries about interest rate hikes in America, making investors more comfortable with emerging markets like India.
Foreign investors poured in $1.36 billion last week alone (after $2.12 billion in July), which experts say is keeping things optimistic.
Still, analysts note that US-Iran tensions or company earnings could shake things up ahead.