ANI
21 Jun 2022, 15:37 GMT+10
New Delhi, [India], June 21 (ANI): Domestic equity benchmark indices extended their gains from the previous session and rose substantially in the morning session on Tuesday, primarily due to value buying after a persistent sharp fall earlier this month.
Snapping six consecutive sessions of losing run, the indices closed Monday's trade on a positive note, helped by good buying support in banking and IT stocks.
Notably, domestic indices had declined during the majority of the sessions in June. During the past month, Sensex slipped over 4 per cent.
"Indian markets halted a six-day-long losing streak on Monday, though fears of aggressive rate hikes and their impact on economic growth kept investors on the back foot. Today, the markets are likely to make a positive start taking gains in Asian peers," said Mohit Nigam, Head - PMS at Hem Securities.
At 9.56 a.m, Sensex was at 52,166.10 points, up 568.26 points or 1.10 per cent, whereas nifty was at 15,545.50 points, up 195.35 points 1.27 per cent.
Among the individual stocks, Titan, JSW Steel, Tata Motors, Hindalco, and Adani Ports were the top five gainers among the Nifty 50 companies, whereas there was no loser among them in the opening session, National Stock Exchange data showed.
"Some support will come with the southwest monsoon entering Madhya Pradesh, Chhattisgarh, coastal Andhra Pradesh, Odisha, West Bengal, Jharkhand and Bihar on Monday," said Nigam.
There may be some cautiousness going ahead as the finance ministry cautioned the re-emergence of the twin deficit problem in the economy, with higher commodity prices and rising subsidy burden, leading to an increase in both fiscal deficit and current account deficit.
"Increase in the fiscal deficit may cause the current account deficit to widen, compounding the effect of costlier imports, and weaken the value of the rupee thereby further aggravating external imbalances, creating the risk (admittedly low, at this time) of a cycle of wider deficits and a weaker currency," Department of Economic Affairs said in its Monthly Economic Review. (ANI)
Get a daily dose of Breaking Property News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.
More InformationDUBLIN, Ireland: The government of Ireland is preparing a new law to prevent foreign investments in critical technology and infrastructure ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...
MOSCOW, Russia: Russia's consumer price index has fallen by 0.12 percent for the third consecutive week.This drop in the consumer ...
LONDON, England: Surging food prices in the UK pushed consumer price inflation to 9.1 percent last month, a 40-year record ...
CLEVELAND, Ohio: It will take two years for U.S. inflation to fall to the central bank's 2 percent target, Cleveland ...
NEW DELHI, India: The European Union and India have relaunched talks to implement a free trade agreement, aimed to be ...
DUBLIN, Ireland: The average price of newly purchased homes in Ireland has risen 11 percent in the past year, with ...
WASHINGTON D.C.: As average home prices surged to a record high, reaching the $400,000 mark for the first time, and ...
HONG KONG: To cope with the weakening property market, developers in China are coming up with innovative ways to attract ...
DUBLIN, Ireland - An office building in the middle of Dublin city's Docklands has been picked as the 2022 RIAI ...
New Delhi [India], June 25 (ANI): Amit Jain, group CEO of Dubai-based real estate developer Emaar Properties, was briefly detained ...
HARARE, June 23 (Xinhua) -- Zimbabwean President Emmerson Mnangagwa commended Chinese companies Thursday for their investment in the southern African ...