Benchmark stock indices in India settled in the green on Friday, tracking positive cues from overseas markets which improved after the recent slump -- following the collapse of Silicon Valley Bank and aftereffects on some other banks.
Stock indices in India continue to decline, pulled down by a sharp dip in almost all sectoral indices, particularly the PSU bank following the collapse of two US banks in a matter of two-to-three days.
Stock indices in India declined sharply to start the fresh week, pulled down by a sharp dip in banking and financial stocks following the collapse of two US banks in a matter of two-to-three days.
Stock indices in India fell for the second consecutive session tracking weak cues from the overnight US markets. Also, the US central bank signalling that further hikes in interest rates may be needed to bring inflation to comfortable levels also hurt the market sentiment.
Indian stocks opened largely steady on Wednesday, but volatility seems to have remained. At the time of writing this report, the benchmark indices Sensex and Nifty were about 0.1 per cent lower each.
At 9.23 am, Sensex traded at 60,338.82 points, up 529.85 points or 0.89 per cent, and Nifty traded at 17,747.15 points, up 152.80 points or 0.87 per cent.
Indian stocks rose substantially Friday morning, partly due to fresh buying after the latest consecutive session losses. Strength in overnight US stocks too lent support.
Till Friday, the stocks declined over concerns that global growth will continue to slow in 2023 due to monetary policy tightening by various central banks to control inflation.