The benchmarks for Indian equities, the BSE Sensex and NSE Nifty 50, continue to rise. The Nifty 50 is currently trading over the 18,400 level, while the Sensex is up around 400 points. Telecommunications stock prices are down while those for oil, gas, and IT shares are up. Prior to results, attention is focused on Nifty 50 businesses Mahindra & Mahindra, Sun Pharma, ONGC, and Grasim Industries.
Progress in the US debt ceiling negotiations boosted optimism and drove an overnight increase in Wall Street stocks. The surge in technology equities was further boosted by Nvidia, a leading manufacturer of chips. Asian equities rose somewhat today.
Among the top gainers from the Sensex pack were Tech Mahindra, Maruti, UltraTech Cement, Wipro, Bajaj Finserv, Hindustan Unilever, Infosys, Titan, and State Bank of India.
Power Grid, HDFC, Axis Bank, IndusInd Bank, ICICI Bank and HDFC Bank were the laggards Shanghai quoted down in the Asian markets, but Seoul and Tokyo traded in the black.
On Thursday, the US market finished largely higher.
On Thursday, the Sensex rose 98.84 points, or 0.16 percent, to 61,872.62. The Nifty rose 35.75 points, or 0.20 percent, to 18,321.15.
The Sensex increased 98.84 points or 0.16 percent on Thursday to close at 61,872.62. The Nifty finished at 18,321.15 up 35.75 points, or 0.20 percent.
According to exchange statistics, foreign institutional investors (FIIs) were net purchasers on Thursday, purchasing shares of stock worth Rs 589.10 crore. Brent crude, the benchmark for all crude oil, fell 0.26% to USD 76.06 a barrel.
The market is experiencing strong gusts of confidence, and Nifty bulls are working to continue the strong bounce from yesterday. We find ourselves cautiously hopeful as the market atmosphere improves, fuelled by the Nasdaq and S&P 500’s gain and the inflow of purchasers at Dalal Street.
In his pre-market opening quote, Prashanth Tapse, a research analyst and senior vice president of research at Mehta Equities Ltd., warned that despite the general optimism, “we must be wary of the unresolved US debt ceiling.”
The National Stock Exchange’s compilation of 15 sector indices showed that 11 of them were trading up. The NSE platform outperformed the sub-indices Nifty FMCG, Nifty IT, Nifty Metal, Nifty PSU Bank, and Nifty Oil & Gas by increasing by 0.60 percent, 0.75 percent, 0.40 percent, 0.84 percent, and 0.35 percent, respectively.
Reliance Industries was the highest Nifty gainer among individual stocks, rising 1.64 percent to trade at Rs 2,479.90. Additionally, shares of Bajaj Finserv, Maruti, UPL, and Tech Mahindra increased by 1.24 percent.
In contrast, the stock prices of ONGC, Grasim, PowerGrid, Sun Pharma, and Eicher Motors decreased by as much as 1.81 percent.
On the BSE, 1,799 shares were trading higher while 996 were trading lower, indicating a healthy market breadth overall.
Reliance, Infosys, SBI, Kotak Mahindra Bank, Maruti, ITC, Hindustan Unilever (HUL), and Bajaj Finance were among of the top gainers on the 30-share BSE index.
In addition, 11.28 percent was added by Medplus Health Services, Praj Industries, Esab India, and Price Pipes.
Page Industries, Star Health, Aster DM Healthcare, Mishra Dhatu Nigam, Prestige Estates, and NCC, on the other hand, saw a decline of up to 12.38 percent. Adani Total Gas and Adani Transmission both had 3.05 percent declines.
Page Industries, Star Health, Aster DM Healthcare, Mishra Dhatu Nigam, Prestige Estates, and NCC, on the other hand, saw a decline of up to 12.38 percent. Adani Total Gas and Adani Transmission both had 3.05 percent declines.
