Erasing early gains, Indian stocks close largely steady

ANI
24 Jan 2023, 21:55 GMT+10

New Delhi [India], January 24 (ANI): Indian stock indices closed Tuesday's trade largely on a steady note. In early trade, they traded significantly higher.

Among the Nifty sectoral indices, metal, pharma, PSU bank, and realty were the top losers, whereas consumer durables, auto, and IT were the top gainers, National Stock Exchange data showed.

"Markets ended almost unchanged in a volatile trading session, in continuation to the prevailing consolidation phase," said Ajit Mishra, vice president, Technical Research, Religare Broking Ltd.

Vinod Nair, head of Research at Geojit Financial Services, said he has hopes of a soft landing in the US economy along with anticipation of a lesser rate hike boosted global bourses.

"Mirroring robust global peers, the domestic market extended previous gains driven by auto stocks. However, due to selling pressure in banking shares, the indices anchored close to the flatline. Auto stocks were in focus prior to the earnings results of the sector major," said Nair.

Meanwhile, the Rupee closed at 81.72 versus the US dollar, against Monday's close of 81.39.

"The Rupee trend which was positive a couple of days back has turned volatile as the last couple day rupee has lost 0.80 per cent from highs of 80.95 registered in early Monday morning opening," said Jateen Trivedi, VP and research analyst at LKP Securities. (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 Broadcast Communications.

More Information

25 ℃

Mostly Cloudy in Seletar

Business

Section

U.S. stocks get boost from Fed chair, Nasdaq surges 226 points

NEW YORK, New York - Stocks ended sharply higher on Tuesday following mixed comments by Federal Reserve Chairman Jerome Powell.Powell ...

Media reports US to sue Amazon claiming antitrust violations

NEW YORK CITY, New York: The Wall Street Journal reported this week that the US Federal Trade Commission is preparing ...

Blaming cost of manufacturing, Nestle to raise prices for second year

VEVEY, Switzerland: In an interview with Frankfurter Allgemeine Zeitung this week, Nestle's Chief Executive Mark Schneider said the world's largest ...

Fed fails to cool economy as US sees 517,000 jobs created in January

WASHINGTON D.C.: Despite the efforts of the Federal Reserve Bank to cool the job market to help curb record-high inflation, ...

Nasdaq Composite loses one percent as Treasury yields bit

NEW YORK, New York - A sharp rise in U.S. Treasury yields kept buyers at bay on Wall Street on ...

102,000 job firings in US high tech in December, according to report

WASHINGTON D.C.: A report released this week detailed how, in January, layoffs in the US reached a more than two-year ...

Broadcasting

Section