Indian stocks rise marginally on global cues

ANI
23 Nov 2022, 15:18 GMT+10

New Delhi [India], November 23 (ANI): Indian stock indices extended their gains from the previous session in line with strength in overnight US markets.

At the time of writing this report, Sensex traded at 61,519.68 points, up 100.72 points or 0.16 per cent, whereas Nifty traded at 18,275.75 points, up 31.55 points or 0.17 per cent.

On Tuesday, the markets started on a sluggish note, however, indices recovered to end with smart gains, mainly aided by a recovery in European markets.

"We believe that IT stocks can be a good buy for both small and medium-term gains led by good corporate earnings and expectations of slowing pace of interest rate hike by FED. Investors can also accumulate auto shares as good demand and RM prices cooling off may lead to a rise in these stocks," said Mohit Nigam, Fund ManagerHead - PMS, Hem Securities.

Nigam said some stock-specific actions can be witnessed in stocks such as FSN E-Commerce as CFO Arvind Agarwal reportedly resigned to pursue other opportunities, Vedanta as its board approved the third interim dividend for FY23 of Rs 17.5 per share, and DCW as the company will invest Rs 125 crore towards capacity expansion.

Meanwhile, the rupee however depreciated marginally this morning. It opened at 81.80 against the US dollar from its previous close of 81.67.

In October, the rupee breached the 83 mark for the first time in its history. So far this year, the rupee has depreciated around 8-9 per cent. (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 Sports Sun.

More Information

23 ℃

Mostly Cloudy in Seletar

US Sports

Section

Cardinals TE Zach Ertz had surgery to repair ACL, MCL

Arizona Cardinals tight end Zach Ertz said Thursday that he underwent surgery to repair both his ACL and his MCL ...

Johnny Gaudreau to see old friends when Blue Jackets meet Flames

Having spent eight seasons with the Calgary Flames, Johnny Gaudreau of the Columbus Blue Jackets will be hosting his old ...

Giants RB Saquon Barkley (neck) lands on injury report

New York Giants running back Saquon Barkley was limited in practice on Thursday, days before the team's massive battle against ...

Deshaun Watson on debut: 'Don't know when it's going to come back'

Deshaun Watson won his debut with the Cleveland Browns last week in Houston. The result was one of few positives ...

Oregon LB DJ Johnson enters NFL draft

Oregon linebacker DJ Johnson announced Thursday that he is opting out of the Holiday Bowl and declaring for the NFL ...

Brian Brohm named Purdue interim coach after brother's departure

Purdue athletic director Mike Bobinski said Thursday that Brian Brohm will serve as the Boilermakers' interim coach for the Citrus ...

NFL

Section