Indian stock indices extend gains, Sensex up 1 pc in early trade

New Delhi, July 28: Indian stock indices extended their gains from the previous session. In early trade on Thursday, Sensex and Nifty traded around 1.0 per cent higher from the previous close.

Today’s rise was witnessed despite the 75 basis points policy rate hike by the United States Federal Reserve to tame an over four-decade high inflation.

Indian equity markets recorded their best weekly performance during the past week, supported by renewed buying, especially in banking and Information Technology stocks as well as the return of foreign investments into the Indian markets after months.

The domestic equity market closed at its highest level in seven weeks, marking its best week since February 2021. Sensex and Nifty during the week rose around 3-4 per cent on a cumulative basis.