NEW DELHI: Equity benchmark indices Sensex and Nifty extended gains for the second consecutive trading session on Tuesday supported by realty, pharma and FMCG stocks while losses in IT limited the upside. Analysts said that investors cheered easing WPI inflation (June) data and felt that markets were unaffected by trade data released on Monday that showed weakening consumption, with June imports slipping to their lowest level in four months to $40.29 billion, down 9 per cent from a year ago. On the macro front, business sentiment in June was down to its lowest level since 2016 in India due to slowing economic growth, water shortage and regulatory hurdles, according to a survey by IHS Markit. However, hopes of probusiness government policies and a better financial flow continue to underpin optimism towards output and profitability growth in the year ahead, the report said. Also, analysts were of the view that Skymet’s prediction that monsoon will be weak across India over next two weeks may weigh on the markets in the coming days as investors await more set of earnings this week. Q1 results so far have been mixed and moving ahead they are expected to be subdued in nature, analysts warned…. Read full this story
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