Indian stock indices start fresh week on steady note

Aug 08, 2022

New Delhi, Aug 08 (ANI): The Indian stock indices started the fresh week largely steady as the benchmark indices - Sensex and Nifty - traded in a range of (+/-) 0.1 from Friday's closing. Among the Nifty 50 stocks, 30 were in the green and the rest in red, National Stock Exchange data showed. “Growth impulses in India are strong. Leading indicators like bank credit growth, capacity utilisation in manufacturing, automobile demand etc suggest an economy in the strong rebound. Financials, capital goods and construction are on a strong wicket. Pharma and FMCG are stable. Robust jobs data in the US bodes well for the IT sector,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. In July, FPIs bought equities worth Rs 4,989 crore and became net buyers after nine months, National Securities Depository (NSDL) data earlier showed. In the past one month, the indices - Sensex and Nifty - gained around 7-8 per cent each, respectively. Notably, the Indian stocks recorded their best weekly performance during the week to July 22 marking its best week since February 2021.