Indian stock indices started the fresh week on a firm note with support lent from a range of fundamentals such as continued inflow of foreign funds, easing in inflation (both retail and wholesale), and global cues.
Going ahead, the release of US and Indian inflation data for April will be keenly watched by the market participants to get a direction. India retail inflation data is expected on Friday.
Indian stock indices opened marginally higher Monday after having closed in the red the last session. At the time of writing this report, benchmark indices Sensex and Nifty were 0.5 per cent higher each.
Indian stock indices have managed to end this week with gains on a cumulative basis. Benchmark Sensex and Nifty indices accumulated 0.8-1.0 per cent gains.
Indian stock indices declined Friday morning, largely due to profit booking after the recent consistent bull run. Indian stock indices had been rising for about two weeks, backed by higher-than-estimated Q4 earnings, firm GST collection and foreign fund inflows.
Strength in Indian stock indices continued from the past few sessions which opened in the green on Thursday, but was limited as US Fed in its fight against inflation raised interest rates by another 25 basis points.
Indian stock indices extended their positive momentum from the past week and opened in the green on Tuesday, largely due to firm GST collections and continued foreign fund inflows in April.
Indian stock indices opened Monday's trade on a firm note after closing largely steady last week. At 9.26 am, benchmark domestic indices Sensex and Nifty traded 0.3 per cent up from their previous closing.
Indian stock indices opened Wednesday's trade marginally higher as investors await retail inflation data for March (both for India and the US) later in the day.