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 Afghanistan Sun 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 Afghanistan Sun.
More InformationWASHINGTON D.C.: Reuters has reported that on 7th June, former Vice President Mike Pence will enter the race for the ...
PYONGYANG, North Korea: North Korea attempt failed to launch a satellite on May 31, which prompted raid sirens and a ...
HONG KONG, China: Describing the lack of women in China's top leadership as concerning, the United Nations has recommended the ...
BEIJING, China: Amid its rivalry with the US for reaching new milestones in space, reflecting their competition for global influence, ...
WASHINGTON D.C.: A Transportation Security Administration (TSA) report released this week revealed that over the Memorial Day weekend, the start ...
KUALA LUMPUR, Malaysia: Malaysia's maritime agency has said that it found a cannon shell believed to be from World War ...
Dhaka [Bangladesh], June 4 (ANI): The Bangladesh Cricket Board (BCB) has announced on Sunday the squad for the one-off Test ...
Kabul [Afghanistan], June 4 (ANI): Two convicts guilty of theft in the Khusamand area of eastern Paktika province were publicly ...
Kabul [Afghanistan], June 4 (ANI): United Arab Emirates' Permanent Representative to the United Nations Lana Nusseibeh said that they will ...
Islamabad [Pakistan], June 6 (ANI): The condition of minorities in Pakistan is similar to that of the Afghan refugees. Like ...
Kabul [Afghanistan], June 4 (ANI): Two United Nations bodies Food and Agriculture Organisation (FAO) and the World Food Programme (WFP) ...
JIUQUAN, June 4 (Xinhua) -- Three Chinese astronauts on board the Shenzhou-15 manned spaceship returned to Earth safely on Sunday, ...