Indian markets start the day in the Green

30 May 2022 , 09:53 AM

Indian markets have begun the day in the green. Within the first half-hour, Nifty 50 is up by 343 points. BSE Sensex is up by 829 points.  Top gainers today are Titan, Adani Ports, and UPL. Top losers today are JSW Steel, Dr. Reddy, and Kotak Bank.

Indian markets have opened today on a positive note on the back of positive global cues. US inflation rate in April 2022 slowed down to 6.3%. Slowing down of US inflation rate is a positive news for Indian equity markets. It reduces the probability of US Federal Reserve resorting to a much more aggressive increase in interest rates, than already factored in by the markets. Increase in US interest rates causes outflow of foreign portfolio investments from Indian equity markets. It also causes depreciation of Indian rupee against the US dollar. Increase in US interest rates also causes slowdown in US economy. A slowdown in US economy reduces demand for Indian exports to US.

Indian equity markets have also got some positive cues from Asian markets today. Most of them have started the day in the green.