Indian equities may have risen on Tuesday on the back of positive cues from Asian markets. The 30-share benchmark Sensex rose by 1028.17 or 3.62% to close at 29,4689.49. The broader Nifty50 also rallied 3.8% or 316.65 points to close at 8,597.75. Market experts, however, suggested that focus will now be on size and quality of the companies.
Foreign portfolio investors (FPIs) continued to pull out from Indian markets selling $403.5 million from Indian equities, according to provisional data on exchanges. Domestic Institutional Investors (DIIs) have bought equities worth $473.4 million. FPIs have so far pulled out nearly $15 billion from the Indian equity and debt markets making the current exodus, which is the largest ever.
Nifty50 closed higher at 8597.75 level, 316.65 points, or +3.82 per cent. Nifty Support : 8500 and 8400 Resistance : 8700 and 8900.
