Indian stocks SENSEX and NIFTY both rose
The Indian stock market rose 503 points (0.6%) to 80,542 in early trading on Friday, and Nifty 50 surpassed 24,500 and stopped a 5-day decline, supported by gains in metals, tech sectors, real estate, healthcare, etc.
Traders shouldered the federal budget and Wall Street adjustments overnight and continued the ongoing consolidation pattern.
Market participants are preparing to report the first quarter results for several companies, such as Power Grid, Cipla, and Indus Bank India.
Early increases were Device Laboratories (3.4%), Infosys (2.8%), LTIMindTree (2.7%), Bertie Airtel (2.6%), Shriram Finance (2.5%), and JSW Steel (2.4%).
However, traders are expecting the announcement of the US June PCE price index today, a few days ahead of next week's FOMC.
This week, BSE SENSEX headed for a 0.1% decline, the first weekly decline in 8 weeks, as the government decided to raise taxes on long-term and short-term capital gains.
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乱空 OP : First quarter results: India's top 5 IT companies are optimistic in response to the recovery in the North American market
However, the IT sector has shown no signs of picking up in discretionary spending, and it cannot be said that it has come out of the crisis yet.
乱空 OP : Nifty is less than 50 points until the all-time high, Sensex rises 1,200 points, and small to medium stocks shine
The BSE small and medium cap indices each rose 1%.
Nifty's main rising stocks are Device Labs, Apollo Hospitals, Adani Enterprises, Adani Ports, SBI Life Insurance, etc., while falling stocks include ONGC, Tata Consumer, Nestle, Axis Bank, HDFC Bank, etc. IT, metals, pharmaceuticals, real estate, automobiles, capital goods, telecommunications and media rose 1.3%, and all sector indices are trading in green.