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Indian bourses continue to trade higher

ShareTipsInfo | 23 May, 2016  | Follow Author | Add to my Favourites 
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Indian bourses continued to trade higher in late morning session on account of value-buying by funds and retail investors. Sentiments got some support with a private report that India's net FDI flows are expected to rise further this fiscal to $38 billion on emergence of some ‘positive signs’ such as regulatory easing in select sectors and reform measures initiated by the government. Net FDI flows in 2015-2016 stood at around $36 billion as against $31 billion for 2014-2015. Furthermore, India Inc's credit profile was at its best last financial year with over 89 per cent of its debt securities being rated as safe for investment -- a record high for such issues. Credit rating agencies (CRAs) in 2015-16 rated a total of 952 long-term corporate debt securities worth Rs 12.8 lakh crore. Firm global cues coupled with the appreciation in rupee value against the dollar added to the optimistic sentiments. The BSE Sensex is currently trading at 25332.56, up by 30.66 points or 0.12% after trading in a range of 25300.48 and 25519.26. There were 14 stocks advancing against 16 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.28%, while Small cap index up by 0.28%. The CNX Nifty is currently trading at 7767.60, up by 17.90 points or 0.23% after trading in a range of 7756.30 and 7820.60. There were 33 stocks advancing against 18 stocks declining on the index.

Market Sentiment: The market breadth on BSE was positive, out of 2127 stocks traded, 1093 stocks advanced, while 921 stocks declined on the BSE.

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