Mumbai, July 15: Indian benchmark indices opened on a positive note on Monday, buoyed by IT quarterly results and buying from foreign institutional investors (FII).
The Sensex opened approximately 160 points higher, reaching the 80,674 level, while the Nifty rose nearly 40 points to open at the 24,540 level.
HCLTech shares surged nearly 5 percent following the company's robust quarterly earnings. Similarly, Zomato’s shares saw an uptick after the food delivery platform raised its platform fee.
Market analysts noted that global support for the market rally in India remains strong. However, they cautioned investors about the excessive valuations in momentum stocks, which are approaching frothy levels.
On July 11, foreign institutional investors (FIIs) turned net buyers, purchasing equities worth Rs 4,021 crore. In contrast, domestic institutional investors continued their selling trend, offloading equities worth Rs 1,651 crore.
