Indian stocks rise for third day, rupee retreats from all-time low

Updated:3 years, 10 months ago

New Delhi, July 29 (ANI): The rally in Indian stocks continued for the third straight day on Friday, supported by a rise in Nifty IT, metal, auto, and realty indices. In early trade, the benchmark indices Sensex and Nifty rose around 1 per cent each. Adding to the woes, real gross domestic product (GDP) in the US decreased at an annual rate of 0.9 per cent in the second quarter of 2022 (April-June), marking the second consecutive quarter of degrowth which qualifies for a technical recession. In the January-March quarter, real GDP decreased 1.6 per cent, US Bureau of Economic Analysis data showed. For the record, Indian equity markets recorded their best weekly performance during the past week, supported by renewed buying, especially in banking and Information Technology stocks as well as the return of foreign investments into the Indian markets after months. The domestic equity market closed at its highest level in seven weeks, marking its best week since February 2021. Sensex and Nifty during the week rose around 3-4 per cent on a cumulative basis.

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Indian stocks rise for third day, rupee retreats from all-time low

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