ANI
29 Nov 2022, 14:55 GMT+10
New Delhi [India], November 29 (ANI): Extending gains from the previous session, Indian stock indices rose this morning and hit fresh lifetime highs.
The robust inflows of foreign funds, relative strength of the Rupee, and hint by the US Fed on slowing down on policy rates supported Indian stock markets.
At the time of writing this report, Sensex traded at 62,706.73 points, up 201.93 points or 0.32 per cent, whereas Nifty traded at 18,626.70 points, up 63.95 points or 0.34 per cent.
The minutes of the US Federal Reserve's latest monetary policy review meeting showed a substantial majority of members judged that a slowing in the pace of increase in policy rates would likely "soon be appropriate".
Coming to foreign funds, they have purchased over Rs 31,000 crore worth of equities in India so far in November, NSDL data showed.
Among the Nifty 50 companies, Apollo Hospitals, Hindustan Unilever, Dr Reddy's, Hindalco, and Tata Steel are the top gainers, whereas Bajaj Finserv, Tata Motors, BPCL, LT, and Maruti Suzuki are the top losers, National Stock Exchange data showed.
"Nifty rising to a new record... is indicative of the underlying bullishness in the market. But the global market construct is not very favourable for the rally to continue unabated. Also, the high valuation in India is becoming a matter of concern," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"Banking stocks can remain resilient in spite of record levels. Comments and indications on the trajectory of US interest rates are more likely to impact global equity markets more than anything else."According to Dhiraj Relli, MD and CEO, of HDFC Securities: "The undertone of the Indian market remains bullish despite the global headwinds. Indian markets could continue to do well with some intermittent corrections till the forthcoming Union Budget." (ANI)
Get a daily dose of China National 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 China National News.
More InformationWASHINGTON D.C.: The US House of Representatives has passed a bill that limits the ability of US Energy Secretary Jennifer ...
BOSTON, Massachusetts: Russian businessman Vladislav Klyushin, who has ties to the Kremlin, has been accused of making tens of millions ...
TOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...
DALLAS, Texas: Oil and gas pipeline operators are preparing to stockpile equipment following severe weather forecasts for the next few ...
WASHINGTON D.C.: As US lawmakers investigate the Chinese-owned video-sharing app TikTok, its Chief Executive, Shou Zi Chew, has confirmed that ...
TEHRAN, Iran: A gunman this week stormed the Azerbaijan Embassy in the Iranian capital, Tehran, and killed its security chief ...
TOKYO, Japan: In light of a tense security environment following Russia's invasion of Ukraine and Moscow's growing military cooperation with ...
BEIJING, China: As COVID-19 restrictions and a slowing economy curbed consumer demand in 2022, China's smartphone sales witnessed a record ...
MANILA, Philippines: In an effort to attract more tourists, President Ferdinand Marcos has approved a value-added tax refund program for ...
MANILA, Philippines: After a Filipina domestic worker was killed and dumped in the desert in the oil-rich emirate of Kuwait, ...
SEOUL, South Korea: South Korean officials have said that the government will double energy vouchers and provide discounts on gas ...
WASHINGTON D.C.: The US State Department has said that in the latest fiscal year, US military equipment exported to foreign ...