Indian indices opened with slight gains. (file)
Bengaluru:
Indian equities opened with modest gains in the first trading session of 2023 today, supported by a rise in metals.
The Nifty 50 index was up 0.14% at 18,129.95 at 9:28 am IST, while the S&P BSE Sensex was up 0.12% at 60,917.55.
Most of the major sectoral indices posted gains.
The metals gained over 1.5% after China announced plans to raise export duty on aluminum from January 1 to revive domestic demand, which analysts say will lead to increased market share for Indian companies.
Asian markets were trading mixed, with the MSCI Asia ex-Japan index rising 0.05%.
The Managing Director of the International Monetary Fund (IMF) warned that 2023 will be a tougher year for the global economy than 2022 as all the major engines of global growth—the United States, China and Europe—experience weaker activity.
Oil prices edged higher on a trip to the year-end holidays, with Brent crude futures at around $86 a barrel. High oil prices hurt oil-importing countries like India, where crude oil forms a major part of the country’s import bill. [O/R]
Among individual stocks, Tata Motors gained nearly 2% after reporting 10% growth in domestic sales in December.
(This story has not been edited by NDTV staff and was auto-generated from a syndicated feed.)
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