Indian stock indices closed Wednesday's trade marginally in the red, mirroring weak cues from the US markets and along with weakness in domestic IT and PSU bank stocks. Profit booking at higher levels also dented the stock indices.
Indian benchmark indices opened with gains on Tuesday following the rally in the Asian and US markets. Experts stated that the rally could push markets to new all-time highs.
According to analysts, Indian stock markets experienced a sharp fall, tracking a sell-off in the US markets. Weak US manufacturing activity raised concerns that the economy might be slowing faster than anticipated.
The NSE Nifty 50 index gained 40 points to 24,360 points, while BSE Sensex also surged marginally with a gain of 180 points to 80,110 at the time of filing this report. Tuesday marks the second consecutive day when markets opened on a flat note.
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Indian stock indices are off to a strong start at the opening bell Thursday, tracking firm overnight cues from US markets which rose after a softer-than-expected US consumer inflation in April.
Indian stock indices started Wednesday's session marginally higher, keeping the positive momentum intact for the fourth straight session, primarily tracking positive cues from the US markets which rose overnight.
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.
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.
The Indian stock market gears up for a cautious opening on Friday, as the aftermath of high inflation and deferred rate cut expectations in the US market. On Wednesday US markets tumbled after inflation data delayed rate cuts hopes beyond June.
The US stocks ended with deep cuts, after sticky US inflation data - more than estimated at 3.1 per cent in January -- triggered worries of further delay in the easing of interest rates. S&P 500 declined about 1.4 per cent Tuesday.
Indian stock indices were marginally higher at Thursday's opening bell, tracking positive cues from overnight US markets. The latest return of foreign portfolio investors to India also somewhat supported the stocks.