Indian shares rose for the first time in five days in a low-volume session on Monday, with the benchmark Nifty 50 reclaiming the key 18,000 level, as risk assets were boosted after mixed U.S. data bolstered bets of smaller Federal Reserve rate hikes.
The Nifty fell 3.3% in the previous four sessions, slipping below the psychologically key 18,000 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."Reuters Graphics
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