India market indexes rebounded in Mumbai trading, and stocks advanced on optimism about economic growth and the interest rate outlook.

Stocks in India lacked direction, and the Indian government bond yield edged lower. The Bank of Japan held its ultra-loose monetary policy intact, and the benchmark indexes in Hong Kong continued to slide lower.

Stocks on Dalal Street edged lower and markers in Asia traded down ahead of monetary policy decisions from the Bank of Japan and the People's Bank of China.

Texmaco Rail and Engineering won an order to supply wagons. Sterling and Wilson Renewable Energy completed their institutional offering.

Stocks advanced weekly gains, and large, mid, and small cap indexes jumped. Market indexes are set to close higher for the eighth week in a row on interest rate and economic growth optimism.

Stocks in Mumbai faced selling pressure after consumer inflation rebounded to a 4-month high and foreign investors lowered their stakes in pharmaceuticals and banks.

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.