Snapping a four-day winning streak, Indian stock indices closed sharply lower on Thursday, primarily due to risk aversion by investors amid weak global cues.
Indian stocks were steady as the opening bell rang on Tuesday, largely due to the absence of any particular fresh cues. Investors in the US market too took a breather after the Thanksgiving holiday.
Indian stock benchmark indices stayed in the green Wednesday, extending gains they accumulated during the previous session. Sensex and Nifty are half a per cent higher from Tuesday's closing bell.
Investors now await retail inflation data for June to be released later today. Analysts expect inflation may see an uptick due to the sharp rise in tomato and a relative spurt in pulses prices.
Indian stock indices rose marginally Monday morning but analysts pointed out that any further rally from the current levels is unlikely. Notably, Sensex seems to have anchored around 65,000 points.
Indian stock indices, which have been buoyant over the past several sessions, touched their all-time highs during Wednesday's trade. The rise in domestic stocks is in tune with the global market rally and firm domestic macro fundamentals.
Indian stock indices managed to trade on a positive note throughout Wednesday's session and settled substantially high with all eyes now focused on the Reserve Bank of India's (RBI) decision from the ongoing bi-monthly monetary policy review.
More than estimated GDP numbers in India, sustained foreign buying, and the US House of Representatives has passed the US debt ceiling bill indicating that the debt impasse will be resolved and will put less pressure on its economy are some of the major reasons which supported the stocks
BSE 30-share Sensex went up 123 points to settle at 62,969.13 and NSE Nifty surged 32 points and ended at 18,633.85 on Tuesday. According to data, about 1,640 shares advanced, 1,766 shares declined, and 112 shares unchanged.