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BENGALURU, Sept 29 (Reuters) - Indian shares rose on Thursday after six consecutive sessions of losses, boosted by gains in beaten down metals
and energy companies, with investors eyeing initiatives from
central banks to allay fears of a global recession.
The NSE Nifty 50 index rose 0.6% to 16,948.50 as of 0511 GMT,
while the S&P BSE Sensex gained 0.5% to 56,864.11.
Global equities staged a partial comeback after Britain's central
bank launched an emergency bond buying programme to stabilise the market in an attempt
to dampen investors' concerns of a contagion across
the financial system.
"Thursday's bounce has more to do with UK's measures and positive global cues. Some amount of short squeeze also can happen due to the expiry day," said Anita Gandhi, director at Arihant Capital
Markets.
Investors were likely positioning ahead of the Reserve Bank of India's
policy decision on Friday, when the central bank is widely expected to raise interest rates, analysts said.
"More than rate hikes, the commentary of the RBI will also be very essential,"
Gandhi said, adding that sharp correction in the markets has made valuations look "attractive."
Foreign institutional investors (FIIs) sold a net 27.72 billion Indian rupees ($340.5 million)
worth of equities on Wednesday, while domestic investors purchased 25.44 billion rupees of shares, as per provisional data available with the National Stock Exchange.
FIIs have sold nearly 106.97 billion rupees worth Indian equities so far into the week until Wednesday, NSE data showed.
The Nifty metals index rose 2.5% after losing nearly 7% this week as of Wednesday,
while the energy index gained 1% after falling nearly 5%.
Hindalco Industries was the top Nifty 50 gainer, rising 3.5%,
while Asian Paints the top loser, falling 2.5%.
Indian cosmetics-to-fashion retailer Nykaa's parent FSN E-Commerce Ventures rose as much as 5.6% after the company said it will consider an issue of bonus shares.
($1 = 81.4060 Indian rupees) (Reporting by Nallur Sethuraman in Bengaluru; Editing
by Savio D'Souza and Dhanya Ann Thoppil)
Peshawar Pakistan; olc1.ohiolink.edu,
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comments (116684)
Thanks on your marvelous posting! I genuinely enjoyed reading it, you may
be a great author. I will always bookmark your blog and definitely will come back in the foreseeable future.
I want to encourage you to definitely continue your great posts, have a nice
weekend!
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By Sethuraman N R
BENGALURU, Sept 29 (Reuters) - Indian shares rose on Thursday after six consecutive sessions of losses, boosted by gains in beaten down metals
and energy companies, with investors eyeing initiatives from
central banks to allay fears of a global recession.
The NSE Nifty 50 index rose 0.6% to 16,948.50 as of 0511 GMT,
while the S&P BSE Sensex gained 0.5% to 56,864.11.
Global equities staged a partial comeback after Britain's central
bank launched an emergency bond buying programme to stabilise the market in an attempt
to dampen investors' concerns of a contagion across
the financial system.
"Thursday's bounce has more to do with UK's measures and positive global cues. Some amount of short squeeze also can happen due to the expiry day," said Anita Gandhi, director at Arihant Capital
Markets.
Investors were likely positioning ahead of the Reserve Bank of India's
policy decision on Friday, when the central bank is widely expected to raise interest rates, analysts said.
"More than rate hikes, the commentary of the RBI will also be very essential,"
Gandhi said, adding that sharp correction in the markets has made valuations look "attractive."
Foreign institutional investors (FIIs) sold a net 27.72 billion Indian rupees ($340.5 million)
worth of equities on Wednesday, while domestic investors purchased 25.44 billion rupees of shares, as per provisional data available with the National Stock Exchange.
FIIs have sold nearly 106.97 billion rupees worth Indian equities so far into the week until Wednesday, NSE data showed.
The Nifty metals index rose 2.5% after losing nearly 7% this week as of Wednesday,
while the energy index gained 1% after falling nearly 5%.
Hindalco Industries was the top Nifty 50 gainer, rising 3.5%,
while Asian Paints the top loser, falling 2.5%.
Indian cosmetics-to-fashion retailer Nykaa's parent FSN E-Commerce Ventures rose as much as 5.6% after the company said it will consider an issue of bonus shares.
($1 = 81.4060 Indian rupees) (Reporting by Nallur Sethuraman in Bengaluru; Editing
by Savio D'Souza and Dhanya Ann Thoppil)
Peshawar Pakistan; olc1.ohiolink.edu,
These are actually great ideas in concerning blogging.
You have touched some fastidious factors here. Any way keep up wrinting.
obviously like your web site but you need to test the spelling on several of your posts.
Many of them are rife with spelling issues and I to find it very troublesome to tell the reality however I will surely come again again.
certainly like your web-site however you need to
check the spelling on quite a few of your posts.
Several of them are rife with spelling problems and I find it very bothersome to inform the reality on the other hand I'll definitely come again again.
Leave a comment
Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.