Sensex, Nifty rise; energy, consumer stocks boost [Reuters]
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Source: Reuters
Sensex, Nifty rise; energy, consumer stocks boost | Reuters 2 Min Read (Reuters) - Indian shares rose on Friday and looked set to post a weekly gain with most sectors trading higher and energy stocks climbing on softer crude prices. U.S. tariffs on $34 billion worth of Chinese exports took effect on Friday, and concerns of retaliation by Beijing somewhat dampened sentiment across the region. Asian stocks wobbled, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.1 percent, but the Nikkei stock index rose 1.1 percent. “Markets have bottomed out and we will see correction across sectors... for next few days. There was a lot of pessimism across the board - domestic items, crude prices, international geopolitics - and that has been priced in,” said Jayant Manglik, President-Retail Distribution, Religare Broking. Consumer and auto stocks are doing well due to good progress of the monsoon, he added. A good monsoon is crucial to the Indian economy as it pushes up farm in
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