Indian shares rose for the first time in five days in a low-volume session on Monday, with the rebound helped by mixed U.S. data that bolstered bets of smaller interest rate hikes by the Federal Reserve.
gained 1.08% to 60,494.09. The Nifty fell 3.3% in the previous four sessions and dropped below the psychologically key 18,0000 mark on Friday.
"I expect the markets to recover sharply as the punishment meted out on Thursday and Friday was unwarranted", said G Chokkalingam, founder and head of research at Equinomics Research and Advisory.consumer spending barely rose and inflation cooled further, rekindling bets of smaller-sized rate hikes from the Federal Reserve and improving risk appetite.
However, Chokkalingam cautioned of low volumes. "Normally, trading is thin this time of the year. Expect dullness in the market as foreign institutional activity dies down as they go on holidays."The advance was led by metal stocks , which rose more than 2%, tracking the rise in metals on the weak dollar and hopes of better demand after top consumer China's pledged to boost its economy and real estate sector.
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.
Here's how Chargers can clinch an NFL playoff spot by MondayIf the New England Patriots and Las Vegas Raiders both lose Saturday, then the Chargers can clinch an NFL playoff spot with a victory over the Colts on Monday.
Read more »
Indian court orders archaeological survey of another historic mosqueMany suits have been filed before the court demanding the demolition of the 17th-century Shahi Idgah Masjid, claiming it was built on Krishna Janambhumi’s property.
Read more »
Growing up Indian in Appalachia: 5 questions with Neema Avashia'Appalachia is more complex, and more nuanced, than the dominant narratives about it allow for ... I wanted to write the kind of book that makes it impossible to see Appalachia, or its people, in a reductive fashion.' -- AvashiaNeema:
Read more »
Freezing temperatures expected Christmas Eve, Christmas morning and into MondayHard freeze continues Christmas weekend into Monday, with lows resting in the 20s,...
Read more »
Day after Christmas 2022 store hours: What stores are open and closed on Monday, December 26?Is CVS open? Is Home Depot open? When does Walmart close? What are Target store hours? When does Macy's open? When does IKEA close? Here's everything you need to know about store hours on the day after Christmas 2022 (12/26/2022)
Read more »
Insider: 16 things to watch in Colts-Chargers Monday night matchupLos Angeles (8-6) sits in playoff position heading into the season's home stretch, while the Colts (4-9-1) are now mathematically eliminated.
Read more »