Indian shares begin 2023 on a positive note on metals boost

Indian shares rose on Monday, the first trading session of 2023, helped by an uptick in metals and financials.

Most of the major sectoral indexes logged gains, with metals rising 1.8% and 0.8%, respectively.

"COVID is the major monitorable in the very near term," said Yogesh Nagaonkar, founder and CEO of Rowan Capital Services, adding that banking stocks would likely outperform over the next few sessions on strong earnings outlook. China announced plans to raise export tariffs on aluminium from Jan. 1 in a bid to improve domestic demand, which analysts said will aid market-share growth for Indian companies.

Demand for metals would improve due to China's reopening as well, analysts added, if the COVID situation remains manageable in the world's second-largest economy.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indian shares start 2023 marginally higher on metals boostIndian shares opened marginally higher on Monday, the first trading session of 2023, helped by an uptick in metals.
Read more »

KPRC 2 team members share their New Year’s Resolutions for 2023The fresh slate of a new year has us motivated to make changes and set new goals.
Read more »

The Hosts of Working Share Their New Year’s Resolutions for 2023On this week’s episode of Working, all three hosts reveal their goals for the year ahead.
Read more »

Travel, grandchildren and In-N-Out: readers share plans for 2023Readers shared what they’re most looking forward to in 2023 with columnist David Allen, including vacation plans, children’s milestones and In-N-Out’s 75th anniversary.
Read more »

What’s on the Horizon for 2023For the editors at Scientific American, a new year is a chance to look ahead and predict what might unfold in the world of science and health.
Read more »

Biggest criminal murder trials set to begin in 2023Several high-profile criminal cases are set to begin in the new year, with many people standing accused of murders in both recent and cold cases.
Read more »