ANI
21 Jun 2022, 11:07 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 Central Asia Times 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 Central Asia Times.
More InformationIn the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
Chinese FM calls for joint efforts in finding right way for China, U.S. to get along China and the United States should work together...
New Delhi [India], July 12 (ANI): In a remarkable decision taken at the 47th Session of the World Heritage Committee, India's official...
How the Wests recklessness is testing Moscows nuclear patience A multipolar world is, by its nature, a nuclear one. Its conflicts...
The Hague [Netherlands], July 11 (ANI): Italy made history after securing qualification for the 2026 Men's T20 World Cup in India and...