Erasing early gains, Indian stocks close largely steady

ANI
24 Jan 2023, 21:55 GMT+10

New Delhi [India], January 24 (ANI): Indian stock indices closed Tuesday's trade largely on a steady note. In early trade, they traded significantly higher.

Among the Nifty sectoral indices, metal, pharma, PSU bank, and realty were the top losers, whereas consumer durables, auto, and IT were the top gainers, National Stock Exchange data showed.

"Markets ended almost unchanged in a volatile trading session, in continuation to the prevailing consolidation phase," said Ajit Mishra, vice president, Technical Research, Religare Broking Ltd.

Vinod Nair, head of Research at Geojit Financial Services, said he has hopes of a soft landing in the US economy along with anticipation of a lesser rate hike boosted global bourses.

"Mirroring robust global peers, the domestic market extended previous gains driven by auto stocks. However, due to selling pressure in banking shares, the indices anchored close to the flatline. Auto stocks were in focus prior to the earnings results of the sector major," said Nair.

Meanwhile, the Rupee closed at 81.72 versus the US dollar, against Monday's close of 81.39.

"The Rupee trend which was positive a couple of days back has turned volatile as the last couple day rupee has lost 0.80 per cent from highs of 80.95 registered in early Monday morning opening," said Jateen Trivedi, VP and research analyst at LKP Securities. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Afghanistan Sun.

More Information

null in null

International

Section

Fifty world leaders call on UN to bring about peace in Ukraine

As it did last year, the 2023 United Nations General Assembly has been debating what role the United Nations and ...

Criminal from Louisiana caught in Mexico after 32 years

BATON ROUGE, Louisiana: Authorities said that Greg Lawson, who fled his 1991 trial in Louisiana for attempted murder 32 years ...

Trudeau promises to continue support to Ukraine

OTTAWA, Canada: During a joint news conference with Ukrainian President Volodymyr Zelenskyy in Canada's capital, Ottawa, Prime Minister Justin Trudeau ...