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Indian stock market starts week on a bullish note, with Sensex nearing 62,800 and Nifty 50 moving closer to 18,600 levels, midcap and small-cap stocks touched a new all-time high, banking and consumer durables stocks saw substantial upside.
The 30-share BSE Sensex rose 53 points or 0.08 per cent to trade at 62,675, while the broader NSE Nifty moved 24 points or 0.13 per cent higher to trade at 18,558. Mid- and small-cap shares were positive as Nifty Midcap crawled 0.33 per cent higher and small-cap was up 0.90 per cent.
Aggregate net profit of Nifty companies grew 16 percent while net sales jumped 13 percent in the March quarter. Manufacturing companies fared well, the ones exposed to consumption and outsourcing faced demand-related challenges
Indian markets continue to witness selling pressure on Thursday with Sensex erasing 62,500 and Nifty 50 dropping below 18,500. Banking stocks remained under pressure, dragging the benchmarks the most. While smallcap stocks outperformed.
Not only has slower global growth helped India through lower commodity prices, higher inflation in advanced economies has also boosted outsourcingÂ