Indian stock indices were subdued Wednesday, with the benchmarks witnessing mild profit booking, meaning the investors are taking some money off the table.
Indian stock indices extended gains from the previous session, with Nifty touching its all-time high. The Nifty 50 breached the 20,000 mark for the first time ever on Monday.
In a bullish outlook for Indian stock markets, Morgan Stanley has said it expects the key indices to rise 10 per cent by the time the country votes in next General elections in the summer of 2024.
Indian stock indices extended their gains from the previous week and opened on a positive note Monday, with all sectoral indices tracking in the green.
The latest fund inflows started after the recent banking crisis in the US, leading to the Silicon Valley Bank's closure, among others, in March. Also, India's strong economic outlook, as forecasted by various global agencies, seemed to have made a renewed appetite for domestic stocks.
Indian stock indices started Friday’s trade on a marginally positive note, with Nifty auto, Nifty metal, Nifty media, and Nifty oil and gas among the sectoral indices gaining the most.
Indian stock indices continued to trade on a steady note on Wednesday. At the opening bell, Sensex and Nifty were just 0.07 per cent lower from the previous closing.
Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the fifth straight month, according to data from the National Securities Depository (NSDL).
Indian stock indices traded marginally higher Friday, primarily due to some fresh buying, after they witnessed widespread selling pressure over the past two-three sessions.