AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

BENGALURU: Indian shares were higher in early trade on Tuesday, lifted by oil and gas stocks after the federal government cut a windfall tax on crude oil, though gains were capped by an ongoing selling streak by foreign investors.

The Nifty 50 index was up 0.32% at 17,952.85 as of 9:28 a.m. IST, while the S&P BSE Sensex rose 0.38% to 60,319.31.

Oil and gas stocks were up as much as 0.53% after the country, a major consumer and importer of oil, cut its windfall tax on crude oil and exports of aviation turbine fuel and diesel.

Shares of Reliance Industries, Oil India Ltd Chennai Petroleum Corp and Mangalore Refinery And Petrochemicals climbed between 0.5% and 4.4%.

However, those gains were capped on relentless outflows of funds from foreign investors.

Indian shares fall as foreign outflows persist, oil weighs

Data showed foreign institutional investors extended their selling streak for the seventeenth day in a row - the longest such streak in six months - offloading 7.51 billion rupees ($92.00 million) worth of equities on a net basis on Monday.

In broader markets, the MSCI’s gauge of Asia Pacific stocks outside Japan was down 0.51%.

China’s economy, the world’s second-largest, slowed in the fourth quarter due to stringent COVID curbs, dragging down 2022 growth to one of its worst in nearly half a century and heightening concerns about global growth.

Comments

Comments are closed.