Indian stock indices rose marginally Thursday morning after they witnessed mild losses in the previous session. Today's positive momentum could be linked to record GST collection in April coupled with overall stability in the economy.
The Sensex, India's benchmark index, closed at 74,482.78, marking a decline of 188.50 points or 0.25 per cent after reaching an intraday and all-time high of 75,111.39. Similarly, the Nifty 50 concluded at 22,604.85, down by 38.55 points or 0.17 per cent from its 52-week high of 22,783.35.
Indian stock indices continued their gains from where they left the previous session, though marginally, supported by strong US markets coupled with improved investor sentiment with the relative easing of tensions in the Middle East.
This week will be dominated by the corporate earnings releases and the highly anticipated Federal Open Market Committee (FOMC) meeting scheduled for April 30 to May 1.
Indian stocks opened higher on Monday morning, backed by strong US markets which showed a robust performance on Friday. Also, improved investor sentiment with the relative easing in tensions in the Middle East and declining oil prices supported the Indian stocks.
According to the market analysts, the uptrend in the stock market may continue for the coming week after the U.S. markets showed a robust performance on Friday.
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.
In the Nifty 50 index, 19 shares opened with advance while 31 shares in the list opened in red. Axis bank, Eicher Motors and HCL Technologies were among the top gainers in the Nifty 50. While the Kotak Mahindra Bank, Hindustan Unilever Ltd and Tata consumer were made into the list of top
Indian stock indices marked the third straight session of gains on Wednesday, largely due to buoyancy in the manufacturing and services sector as reflected in the PMI data.