35 C
Guwahati
Saturday, June 22, 2024

Nifty closes above 22,400 on global stocks rally

- Advertisement -
- Advertisement -

Ticker: Sensex jumps 676 pts

 

- Advertisement -

MUMBAI, May 16: Equity benchmark indices Sensex and Nifty shot up nearly 1 per cent on Thursday, driven by buying in HDFC Bank and Infosys and a rally in the US and Asian markets.

In a highly volatile trade, the 30-share BSE Sensex climbed 676.69 points or 0.93 per cent to settle at 73,663.72. During the day, it hit a high of 73,749.47 and a low of 72,529.97.

The NSE Nifty surged 203.30 points or 0.92 per cent to 22,403.85.

“The domestic market experienced a late surge, driven by strong global trends that pointed to lower-than-expected US consumer inflation figures, which suggests at least two interest rate cuts in 2024,” Geojit Financial Services Head of Research Vinod Nair said.

- Advertisement -

Among the Sensex components, Mahindra & Mahindra, Bharti Airtel, Tech Mahindra, Titan, Infosys, JSW Steel, Bajaj Finserv, HDFC Bank, Larsen & Toubro and Kotak Mahindra Bank were the major gainers.

Maruti, State Bank of India, Power Grid, Tata Motors and IndusInd Bank were the laggard.

“The market exhibited volatility during trading hours but managed to gain nearly one per cent, indicating a continuation of its recovery trend. Positive global cues led to a gap-up opening in the Nifty; however, the initial gains diminished quickly as the session progressed. Subsequently, it witnessed sharp fluctuations on both sides before settling near the day’s peak,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

In the broader market, the BSE midcap gauge climbed 1.07 per cent and smallcap index rallied 0.85 per cent.

- Advertisement -

Among the indices, capital goods jumped 2.05 per cent, followed by industrials (1.99 per cent), teck (1.66 per cent), realty (1.59 per cent), IT (1.55 per cent), telecommunication (0.99 per cent) and healthcare (0.70 per cent).

Utilities index emerged as the only laggard.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains. European markets were trading lower. Wall Street ended higher on Wednesday.

Global oil benchmark Brent crude declined 0.33 per cent to USD 82.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,832.83 crore on Wednesday, according to exchange data.

Halting its three-day rally, the 30-share BSE Sensex declined 117.58 points or 0.16 per cent to settle at 72,987.03 on Wednesday. The NSE Nifty dipped 17.30 points or 0.08 per cent to 22,200.55. (PTI)

 

 

 

 

 

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
Best Romantic Places to Visit In Goa In June-July 10 Refreshing Hill Stations To Beat The South Indian Heat 8 Beautiful Flower Trees That Bloom In Spring Across The World 7 Treks To Embark On In Northeast India Journey Through Beauty: South India’s Scenic Train Rides