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 Knoxville 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 Knoxville Times.
More InformationNEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...