Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Indian stocks extend gains; inflation data eyed for fresh cues
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > Indian stocks extend gains; inflation data eyed for fresh cues
Breaking

Indian stocks extend gains; inflation data eyed for fresh cues

ANI
Last updated: May 9, 2023 11:06 am
ANI
Published: May 9, 2023
Share
3 Min Read
SHARE

Indian stock indices extended their gains from the previous session. At the time of writing this report, benchmark indices Sensex and Nifty were 0.2 per cent higher.

Better-than-expected strength of the US economy, firm foreign fund inflows, and strong GST collections among other macro fundamentals have been supporting Indian stocks consistently over the past fortnight or so, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. “There are three prominent factors which are driving the ongoing rally in the market: One, better-than-expected strength of the US economy and the increasing confidence that the US will succeed in avoiding a bad recession. This has led to consolidation in the US market. Two, strong buying by FIIs who have been continuous buyers during the last eight trading days resulting in cumulative buying of Rs 13825 crores. Three, fundamental support to the rally from macro indicators such as robust GST collections, improving PMI, high fuel consumption and good credit growth,” Vijayakumar said.

Last week, Indian stock indices managed to end with gains on a cumulative basis. Benchmark Sensex and Nifty indices accumulated 0.8-1.0 per cent gains.

India’s headline consumer price index-based (CPI) inflation (or retail inflation) has gradually declined from its peak of 7.8 per cent in April 2022 to 5.7 per cent in March 2023 – which is below RBI’s upper tolerance band of 6 per cent.

The RBI’s monetary policy actions over the past year seem to have reaped dividends in managing inflation.

Fitch Ratings forecasts India’s headline inflation to decline, but remain near the upper end of the Reserve Bank of India’s 2-6 per cent target band, averaging 5.8 per cent in 2023-24 from 6.7 per cent last year.

Inflation has been a concern for many countries, including advanced economies, but India has managed to steer its inflation trajectory quite well.

Assuming an annual average crude oil price (Indian basket) of USD 85 per barrel and a normal monsoon, CPI (or retail) inflation is projected to moderate to 5.2 per cent for 2023-24 in India as estimated by RBI in its April monetary policy meeting; with Q1 at 5.1 per cent; Q2 at 5.4 per cent; Q3 at 5.4 per cent; and Q4 at 5.2 per cent. (ANI)

Notorious car lifter from Ganderbal booked under PSA: Police
Two drug peddlers arrested in Baramulla; Psychotropic substances recovered
CBSE board exams begin tomorrow: Over 44 lakh students to appear
Success rate is 100%, can be 101%, but it cannot be less: Indian Army on early warning radar of the air defence system
Indian Army adds new weapons, equipment in Eastern Ladakh for operations in region

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article “I feel we don’t have a good off-spinner”: PBKS skipper Shikhar Dhawan after losing to KKR
Next Article NIA raids underway at different locations across J&K
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Counter Intelligence wing of J-K Police conduct raids across Kashmir valley in terror link case
Breaking Kashmir
May 30, 2025
India’s Purple Revolution to take centre stage at Bhaderwah festival
Jammu
May 30, 2025
Minister Javaid Dar launches ‘Viksit Krishi Sankalp Abhiyan’ at SKUAST-K
Kashmir
May 30, 2025
SMC Comm reviews preparations for Mela Kheer Bhawani, Eid-ul-Adha
Kashmir
May 30, 2025

Recent Posts

  • Counter Intelligence wing of J-K Police conduct raids across Kashmir valley in terror link case
  • India’s Purple Revolution to take centre stage at Bhaderwah festival
  • Minister Javaid Dar launches ‘Viksit Krishi Sankalp Abhiyan’ at SKUAST-K
  • SMC Comm reviews preparations for Mela Kheer Bhawani, Eid-ul-Adha
  • Tourism revival in J&K: Bollywood actress Huma Qureshi interacts with CTTIK delegation, vows support

Recent Comments

  1. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral
  2. sree vishnu movies on Pahalgam attack shatters Kashmir’s film tourism revival
  3. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  4. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  5. dr gora on Women Veterinarians and the Goal of Viksit Bharat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?