Indian stock indices started fresh week largely on a steady note, with weak cues from global benchmark US markets coupled with uncertainty over monetary policy rates in the US.
Indian stock indices carried on with their gains from the past session, in line with the global stocks, after the US central bank's less hawkish stance on the monetary policy front.
The selling spree continues in Indian stock markets for the third straight session after the US central bank while keeping its interest rate steady in the September meeting, hinted that it may again hike rates going ahead if need be, in its fight against inflation.
Indian stock indices touched fresh highs on Friday, largely due to strong overnight cues from US markets and consistent fund inflows by foreign portfolio investors.
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.
Indian Stock Market remain unchanged at the end of the Wednesday. As the market closed, the Nifty and sensex was 0.5 per cent higher. Investors wait for the outcome of the US Fed Monetary Policy meeting which is yet to be announced by July 25–26 mid-night (IST).
Indian stock indices were largely steady for the second straight day, primarily due to a lack of fresh bets at higher levels. Some investors who have recently accumulated gains could be booking their profits.
Several analysts have been pointing out that any further rally from the current peak seems unlikely as valuations were higher, and that is what seems to have been happening in the past two-odd sessions.
There is nothing that seems stopping the current rally in Indian stock indices even as several analysts lately have been pointing to high stock valuations.