The Indian stock market is up today, due largely to value buying by investors. According to National Stock Exchange data, 41 out of 50 stocks on the Nifty 50 index are down, while the Sensex is up by 0.49%.
The relative decline in global crude oil prices may have lent support to the equities, said Mohit Nigam, Head – PMS at Hem Securities. However, potential gains may be constrained by ongoing concerns over the dynamics of economic growth and inflation as well as fresh geopolitical tensions in the wake of Russian attacks on significant Ukrainian cities.
The International Monetary Fund (IMF) on Tuesday lowered India’s GDP growth forecast for the current year by 60 basis points to 6.8 per cent. The IMF’s latest projection on India’s GDP growth is lower than the 7 per cent growth pegged by the Reserve Bank of India (RBI) for the financial year 2022-23.
For fresh cues, stock market investors will closely monitor September inflation data in the US, scheduled for release Thursday. A possible trigger for this is positive data from US inflation data coming tomorrow. So watch out for the crucial US CPI numbers for signs of inflation cooling off, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The India Stock Exchange, located in Mumbai, is the 18th largest stock exchange in the world by market capitalization. It has more than 5,500 listed companies with a combined market capitalization of over US$2.3 trillion. The India Stock Exchange is open for trading Monday through Friday 9:15am-3:30pm IST. The India Stock Exchange began operations in 1875 as the Native Share & Stock Brokers Association. In 1957, it was renamed the Bombay Stock Exchange.
In 1995, it became a demutualized, for-profit company. In 2005, it was renamed the India Stock Exchange. The India Stock Exchange is regulated by the Securities and Exchange Board of India (SEBI). SEBI is responsible for protecting the interests of investors in securities and ensuring the development of a fair and efficient securities market in India. The India Stock Exchange offers trading in a variety of securities, including equities, debt instruments, derivatives, and mutual funds. It also offers a number of services, such as investor education, market data, and trading platforms. Some of the major companies listed on the India Stock Exchange include Tata Consultancy Services, Reliance Industries, HDFC Bank, and Infosys.