The Stock Market Rose After 6 Days of Loss, Sensex and Nifty Rose

Stock Market

Indian equity indices opened with gains on Monday after six sessions of losses. At 9.51 am, the Sensex was up 1.0 per cent or 513 points at 53,307, while the Nifty was up 1.2 per cent or 185 points at 15,967.

The recent decline is attributed to high inflation and tightening of monetary policy by several central banks.

India’s retail inflation rose to 7.79 per cent in April due to higher fuel and food costs. Inflation mark remained above the RBI’s tolerance limit for the fourth consecutive month.

Analysts Expect Inflation to Remain High in the Coming Months As Well

Chief Investment Strategist, Geojit Financial Services, VK. Vijayakumar said, “It is logical to expect more FII sales, especially when the market sees relief.

It is important to appreciate the fact that FIIs are selling not because they are worried about the slowdown in India, but because the US The returns in bonds are attractive and the dollar is strengthening.”

Long-term investors can start accumulating high quality stocks in the financial, telecom, IT and construction sectors.

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