Indian shares rose notably on Friday to snap a four-day losing streak after two of the Federal Reserve’s most hawkish policymakers signaled support for a second straight 75-basis-point rate hike at the U.S. central bank’s policy meeting later this month, alleviating some fears of a 100-basis point hike.
The benchmark S&P BSE Sensex rose 344.63 points, or 0.65 percent, to 53,760.78 while the broader NSE Nifty index settled at 16,049.20, up 110.55 points, or 0.69 percent, from its previous close.
FMCG stocks topped the gainers list, while IT and metal stocks were hit hard.
Hindustan Unilever and Tata Consumer Products both rose about 3 percent, given the recent softening trend in commodity prices.
Among other prominent gainers, Larsen & Toubro, Tata Motors and Titan Company surged 2-3 percent.
Metal stocks led losses, with Tata Steel tumbling 2.6 percent after China GDP data missed forecasts. IT stocks such as Wipro and HCL Technologies lost around 2 percent each.
Sensex, Nifty Snap Four-day Losing Streak
2022-07-15 10:23:52
