First Published Jan 18, 2023, 10:02 AM IST
Mumbai and National Stock Exchanges started trading higher for the 2nd day in a row today. Metal stocks are being eagerly bought
The World Economic Forum has warned that economic recession may occur in the United States and European countries this year. However, trade in India has remained positive for the past two days as domestic factors are strong and unaffected by external factors.
Although economic growth in China slowed to a 50-year low in the 4th quarter, it did not affect the Indian market in any way. The re-opening of the Chinese economy to the rest of the world is seen as a positive aspect.
The public budget will be presented on February 1, and its impact and expectations are high in the stock market. As a result, the stock market is moving with a boom as investors bought shares with enthusiasm.
The BSE Sensex rose 148 points to trade at 60,804 points. Nifty rose 44 points to trade at 18,097 points on the National Stock Exchange.
Out of 30 major companies in BSE, 23 stocks are gainers and only 7 stocks are down. Ultratech Cement, Tata Motors, NTPC, HDFC, Mahindra & Mahindra, Reliance, ICICI Bank were the losers.
In Nifty, IT, Metals, Pharmaceuticals, Private Banking, FMCG, Financial Services sectors are gaining. Automobile, real estate, public sector banking stocks are down.
Last Updated Jan 18, 2023, 10:17 AM IST