Benchmark indices close with moderate gains after choppy session
In the global market, the US stock index futures ticked lower as investors awaited the conclusion of the Federal Reserve's meeting.
In the global market, the US stock index futures ticked lower as investors awaited the conclusion of the Federal Reserve's meeting.
Nifty 50 opened at 22,334.45 against the previous close of 22,332.65 and touched its intraday high and low of 22,452.55 and 22,256 respectively, during the session, finally closed 3 points up at 22,335.70.
In the broader markets, the BSE MidCap and SmallCap indices advanced 1 per cent and 1.23 per cent , respectively.
The rise in domestic stocks is related to both the global market recovery and sound domestic macroeconomic fundamentals.
Also, a relative strength in Indian rupee too have supported the benchmark indices on Monday, said analysts.
According to Gaurav Garg, Head of Research at CapitalVia Global Research: "The Indian Benchmarks started on a positive note amid mixed global cues. Traders will be taking encouragement with Niti Aayog's statement that Indian economy is expected to grow 10.5 per cent in the current fiscal."
According to Likhita Chepa, Senior Research Analyst, CapitalVia Global Research: "The Indian benchmark had a gap up start today and is likely to recover from the previous session's fall."
"Asian markets continued to show mixed signs and India is one of the outperformers today so far," said Deepak Jasani, Head of Retail Research, HDFC Securities.
The broader NSE Nifty50 traded at 17,698.50, down by 12.80 points or 0.072 per cent after opening at 17,718.90 from its previous close of 17,711.30.
"Nifty opened gap up on Sept 23 following positive Asian cues and extended gains till noon," said Deepak Jasani, Head of Retail Research, HDFC Securities
