Share Market Update: Local stock markets also gained for the third consecutive trading session on Thursday amid a rise in global markets as expectations of further interest rate cuts by the Federal Reserve increased after US consumer inflation remained lower than expected. The Sensex closed at 77,042.82 with a gain of 318.74 points or 0.42 percent. Nifty also closed at 23,311.80 points with a gain of 98.60 points or 0.42 percent. Shares of Adani Ports, State Bank of India, Bajaj Finserv, Bharti Airtel, Tata Motors, IndusInd Bank, NTPC, Maruti, Reliance Industries and Axis Bank were among the gainers.
BSE Sensex based on 30 shares closed at 77,042.82 points with a gain of 318.74 points or 0.42 percent. During trading, at one time it rose by 595.42 points to reach 77,319.50 points. National Stock Exchange’s Nifty also closed at 23,311.80 points with a gain of 98.60 points or 0.42 percent.
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Vinod Nair, head of research at Geojit Financial Services, said positive trading continued in the local market. This was driven by positive investor sentiment after soft inflation data in the US raised hopes of a possible rate cut by the Federal Reserve.
Additionally, favorable developments in the Israel-Hamas ceasefire and reduction in trade deficit further added to the market’s upward momentum, he said. However, Britain’s weak economic growth data reduced this sentiment to some extent.
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Among Sensex companies, shares of Adani Ports, State Bank of India, Bajaj Finserv, Bharti Airtel, Tata Motors, IndusInd Bank, NTPC, Maruti, Reliance Industries and Axis Bank were among the gainers. Whereas shares of HCL Tech, Nestle, Infosys, Hindustan Unilever, ITC and Tata Consultancy Services remained in loss.
In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in the lead. There was a rise in the afternoon trading in the markets of Europe. American markets were in gains on Wednesday.
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According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,533.49 crore on Wednesday. Global oil benchmark Brent crude fell 0.18 percent to $ 81.88 per barrel. In the last session, BSE Sensex had closed at 76,724.08 points, up 224.45 points on Wednesday. Nifty stood at 23,213.20 points with a gain of 37.15 points. (Language)
Edited By : Chetan Gour
