Realty and Oil and Gas index saw the highest growth
Mumbai, Aug 2 (IANS)| India’s stock markets rose during the pre-noon trading session on Monday on hopes of a faster economic recovery with better auto sales figures and GST collections. Initially, there was a lag in equity markets on positive global cues and investor optimism on healthy Q1 FY21 results.
Sector-wise, realty and oil and gas indices were the biggest gainers in early trade. Consequently, the BSE Sensex was trading at 52,946.95 at 11.35 am, up 360.11 points or 0.68 per cent from its previous close. On the National Stock Exchange, Nifty 50 traded at 15,873.40, up 110.35 points or 0.70 per cent from its previous close. Deepak Jasani, Head of Retail Research, HDFC Securities said, “Indian equities opened the gap and have remained in a range since then. Asian markets recovered from morning lows.”
“Nifty is likely to face resistance at 15,899. Our markets will later watch for further signals in Asian and European markets.” According to Likita Chepa, Senior Research Analyst, Capital Via Global Research, “Indian benchmark indices started with a lag following positivity in global sentiments. GST collections hit a three-month high in July at over Rs 1.1 trillion on sentiments. “As economic activity resumes, technical indicators also support the market’s positivity.” “If the delta variant of the corona virus is kept under control, we can expect economic activity to return to pre-Covid levels very soon.”
(Disclaimer: This news has been published directly from news agency’s Syndicate feed. It has not been edited by AnyTV News team.)