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Local equities extend gains in morning trade
India, June 18 -- Local equity benchmarks extended their gains in morning session, with Sensex and Nifty gaining around 80 and 25 points, respectively. High beta indices like IT and Power inched higher with the up-move on the benchmarks. Among heavy-weights IndusInd Bank, Vedanta and Infosys exhibited a smart performance. Traders took note of Reserve Bank of India (RBI) governor Shaktikanta Das' statement that financial stability has emerged as a key consideration for monetary policy formulation in post-2008 financial crisis, beyond the imperatives of inflation and growth. However, further gains remain arrested, as Global rating agency Fitch cut India's GDP growth rate forecast for FY20 by 20 bps to 6.6 per cent, even as it retained FY21 es...
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