Indian stock indices traded marginally higher Wednesday morning, but investors' focus remains on the Reserve Bank of India's decision at the ongoing bi-monthly monetary policy review.
Indian stock indices traded largely on a steady note Tuesday morning as investors stared at the the Reserve Bank of India's bi-monthly monetary policy review for fresh cues.
Indian stock indices traded on a positive note Monday morning, extending gains from the previous week on expectations that the RBI will continue to keep the repo rate unchanged in its upcoming monetary policy review meet later this week.
Benchmark indices Sensex and Nifty closed about 0.3 per cent lower each. The fall in indices could be attributed to profit booking by investors after the latest consistent rally in Indian stocks.
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
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.