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Opening Bell: RIL and Tata Motors help Nifty reclaim 17,000

Opening Bell: RIL and Tata Motors help Nifty reclaim 17,000

Opening Bell: RIL and Tata Motors help Nifty reclaim 17,000
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By CNBCTV18.com Apr 20, 2022 9:39:04 AM IST (Updated)

Indian equity benchmark indices opened on a positive note on Wednesday amid mixed global cues. The International Monetary Fund (IMF) lowered India's GDP growth prediction for FY23 from 9 percent to 8.2 percent, citing increased commodity prices as a factor weighing on private consumption and investment.

Indian equity benchmark indices opened on a positive note on Wednesday amid mixed global cues. The International Monetary Fund (IMF) lowered India's GDP growth prediction for FY23 from 9 percent to 8.2 percent, citing increased commodity prices as a factor weighing on private consumption and investment.

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At 09:16 am, the Sensex was up 213.80 points or 0.38 percent at 56,676.95, and the Nifty was up 57.00 points or 0.34 percent at 17,015.70. About 1458 shares have advanced, 512 shares declined, and 83 shares are unchanged.
Coal India, Eicher Motors, Tata Motors, Maruti Suzuki and Reliance Industries were among the major gainers on the Nifty.
Kotak Mahindra Bank, Apollo Hospitals, Cipla, HUL and HDFC Life were among the major laggards.
Tata Elxsi, Angel One, and ICICI Securities are among those slated to release their Q4 earnings today.
Telecom stocks will also be in focus after Reliance Jio and Vodafone Idea reported month on month decline in wireless subscribers while Airtel showed gains in February.
Global Markets
Oil and stock markets were under pressure on Wednesday on worries about the fallout from China's pandemic lockdowns, while the yen slightly extended its record losing streak as traders put Japan's ultra-easy monetary policy settings to the test.
The Chinese yuan hit its lowest since October after the central bank promised support for the services sector, but was volatile as China also surprised and disappointed equities investors by not cutting lending rates.
MSCI's broadest index of Asia-Pacific shares outside Japan was steady as modest losses in Hong Kong and Shanghai offset gains in Sydney. Japan's Nikkei trimmed early gains to stand 0.5 percent higher by mid-morning.
S&P 500 futures fell 0.4 percent and Nasdaq futures dropped 0.9 percent.
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