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
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BSE 30-share Sensex went down 51 points to 61,722.74 and NSE Nifty 50 lost 2 points to 18,284.20 in the morning trade on Thursday. In sectoral indices, energy, IT and financial services were trading in the negative territory on Thursday morning.
The key indices of the domestic equity market ended in the negative territory, extending the loss for the third consecutive day, amid fresh selling. Some profit bookings were seen after the recent bull run.
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.
The benchmark indices of the domestic equity markets on Monday recovered the losses made on Friday, tracking strong global cues. The better-than-estimates earnings also helped investors' sentiments.
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.