Sensex & Nifty At All-Time High; FMCG Stocks Lead

After opening the trading day on a positive note, Indian share markets continue to trade firm in the morning session. Gains are largely seen in stocks from consumer durables sector stocks and FMCG sector. Meanwhile, metal stocks and healthcare stocks are trading in the red.

The BSE Sensex is trading higher by 192 points and the NSE Nifty is trading higher by 50 points. The BSE Mid Cap index is trading up by 0.4% while the BSE Small Cap index is trading up 0.6%. The rupee is trading at 64.32 to the US$.

As per an article in a leading financial daily, Singapore has sought to defend its visa regime, saying that one-third of its workforce is ‘already foreign’ and it would be ‘mindless’ to have open border without any policy framework to control the flow of people.

The statement of Singapore Deputy Prime Minister Tharman Shanmugaratnam assumes significance as Indian IT companies use that country as a gateway to serve clients in the region, the reports noted.

Notably, all major Indian tech companies including TCS, HCL, Infosys and Wipro have a presence in Singapore.

Moreover, Indian IT companies have also been subject to tighter visa norms in the US, which is home to 60% of India’s IT products.

So, are you worrying about IT stocks? If you are, then I highly recommend our co-head of Research Tanushree’s 5 Minute WrapUp from 3 February – How To Act On the Trump Crash in IT Stocks. Here’s an excerpt.