Indian stocks close steady; investors await March inflation data
Apr 10, 2023
New Delhi [India], April 10 : Indian stock indices closed Monday's trade largely on a steady note, as investors await retail and wholesale inflation data for March due later this week.
Sensex and Nifty closed just about 15-25 points higher on Monday.
"The release of inflation data in India and the US, along with the (US Fed) FOMC minutes, have now become crucial in determining the market trend," said Vinod Nair, Head of Research at Geojit Financial Services.
During the morning session, the stock indices were higher, though marginally, largely due to the pause in an interest rate hike by RBI and the latest inflow of foreign funds.
The indices had in fact extended gains for the sixth session in a row, as the central bank made a surprise decision of keeping the repo rate unchanged to assess the effects of the policy rate tightening so far.
Indian stock markets were shut today on Friday for Good Friday.
Also, earnings of listed Indian companies for Q4 2022-23 will also be closely tracked.
