Indian stock indices rise for 4th straight session

July 20, 2022 11:21

Indian stock indices extended their gains from the previous session and traded sharply higher in early trade on Wednesday. This is the fourth consecutive session of gains in the domestic indices.

The latest decline in crude oil prices coupled with signs of domestic inflation plateauing has somewhat lent support to the domestic indices.

At 9.30 a.m., Sensex was at 55,428.21 points, up 660.59 points or 1.21 per cent, whereas Nifty was at16,535.35 points, up 194.80 points or 1.19 per cent.

"Results from the leading financials are likely to be good and the ongoing rally may continue. After the recent correction, IT valuations are attractive. If the US succeeds in avoiding a recession, IT will bounce back smartly," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Among the Nifty 50 stocks, 47 of them traded in the green this morning, with the rest 3 in the red, National Stock Exchange data showed.

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