Stocks rally for fourth day in a row
A 3D printed oil pump jack is seen in front of displayed stock graph and "Oil Stocks" words in this illustration picture, April 14, 2020. REUTERS
Indian shares surrendered some of their earlier gains to close slightly higher on Wednesday as Nestle India’s strong earnings boost consumer stocks, though lingering fears of high inflation and interest rates on corporate profits capped the increase. The NSE Nifty 50 index ended up 0.14% at 17,512.25, while the S&P BSE Sensex climbed 0.25% to 59,107.19. Both indexes rose more than 0.5% earlier in the session and, despite the pullback, have now logged gains for four sessions in a row. The Indian rupee fell to record low versus the US dollar, as surging US Treasury yields prompted a broad rally in the greenback.
Published in The Express Tribune, October 20th, 2022.
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