Stocks in Mumbai lacked direction, but benchmark indexes retained an upward bias in early trading. Investors turned cautious ahead of rate decisions from major central banks later in the week.

Stocks in Mumbai traded higher following the market rally in the previous six consecutive weeks. The Hang Senge Index in Hong Kong dropped to a 14-month low after consumer prices in China declined at the fastest pace in three years.

The Reserve Bank of India left its key lending rate unchanged but increased its fiscal year economic outlook and held its view on inflation.

Market indexes struggled in Friday's trading, but the Nifty and the Sensex indexes are set to extend the rally to the fifth week in a row.

Market indexes advanced for the third day in a row led by stocks in the energy, financial services, real estate and manufacturing sectors. Crude oil prices in international markets dropped to a 5-month low after exports from the U.S. surged to a record high.

Broad Rally Lifts India Indexes

Dec 5, 2023
Arjun Pandit
Market indexes extended gains amid lingering positive sentiment following state election results. Crude oil edged lower, and gold retreated from a record high.

Market indexes advanced after the BJP won a comfortable majority in Rajasthan, Chhattisgarh, and Madhya Pradesh. Crude oil edged lower, but gold soared to a record high following the ongoing weakness in the U.S. dollar.



GDP in the September quarter expanded at a robust pace after government spending rebounded and the manufacturing and construction sectors expanded in double-digits, but consumer spending rose at a sharply slower pace.

Stocks in Mumbai advanced, and the initial public offerings of Tata Technologies, Gandhar Oil, and Fedbank Financial Services advanced on the first day of trading.

Stocks in Mumbai advanced and tech services providers, power sector stocks, and consumer-focused stocks led the gainers list. Gold jumped to a seven-month high in international trading following the decline in the U.S. dollar.

Stocks in Mumbai traded sideways, and the rupee hovered near its record low. Crude oil prices retained a downward bias ahead of the OPEC+ meeting on Thursday.

Stocks in India struggled to advance amid mixed markets in Asia and volatile crude oil prices. Investors reacted to corporate news after the end of the earnings season.

Stocks advanced in Mumbai after crude oil prices declined in international trading and the rupee hovered near its record low.

Stocks in Mumbai advanced, and the Indian rupee weakened despite the decline in the U.S. dollar against the world's major currencies. Crude oil was in focus ahead of the OPEC+ meeting this weekend.



Benchmark indexes in Mumbai advanced following tech-fueled gains in New York in overnight trading. Crude oil prices rebounded for the third day in a row after dropping for the last four consecutive weeks.