Business

Sensex collects 1,047 points on strong global signals; Nifty is located around 17,300


Sensex and Nifty finished higher on Thursday with a second straight session.

New Delhi:

India’s stock benchmark on Thursday rose for the second consecutive session amid strong signals from global markets. As Asian stocks rose on Wall Street overnight, the US Federal Reserve raised its policy rate for the first time since 2018 and signs of progress in talks between Russia and Ukraine lifted investor sentiment. The U.S. central bank raised rates by a quarter of a point (25 basis points) and cited equivalent increases at all other meetings this year.

Returning home, the 30-share BSE Sensex rose 1,047 points or 1.84 percent to close at 57,864, while the broader NSE Nifty moved 312 points or 1.84 percent higher to settle at 17,287. Both indices had similar gains in the previous session.

Shares of medium and low capitalization ended on a strong note as the Nifty Midcap 100 index rose 1.38 percent and shares of low capital gained 1.23 percent.

Of the 15 gauges in the 15 sectors – collected by the National Stock Exchange – were completed in green. Nifty Financial Services and Nifty Consumer Durables outperformed the index, rising 2.77 percent and 2.40 percent, respectively. However, Nifty IT fell 0.24 percent.

In terms of specific shares, HDFC was Nifty’s biggest gain, with shares rising 5.36 percent to Rs 2,415. Titan, JSW Steel, SBI Life and Reliance Industries were also among the gains.

The overall market width was positive, with 2,113 shares rising and 1,295 falling on the BSE.

In the 30-share BSE index, HDFC, Titan, Reliance, Kotak Mahindra Bank, Asian Paints, Sun Pharma and Tata Steel were among the main gains.

In contrast, HCL Tech and Infosys were placed in the red.

Shares of Paytm were down again, according to an analyst – who was too early to predict the problems of the digital payment company – after further lowering the target price. Paytm’s parent One 97 Communications fell 6.28 percent to 594.25 rubles.

“In recent weeks, markets have been overwhelmed by concerns about high commodity prices as a result of the Russia-Ukraine crisis and the tightening of the Federal Reserve. “Launch peace talks between Russia and Ukraine, blockade China due to rising Covid cases and India continuing to buy Russian oil. China has given a boost to commodity prices,” said Hemant Kanawala, Head – Equity, Kotak Mahindra Life Insurance Co. Ltd.

“As a result, we expect the market to continue to consolidate in the short term as investors assess global developments and the upcoming domestic earnings season on the sustainability of the economic recovery,” he added.

In addition, stock indices will be closed due to the “Holi” festival on Friday. The indexes will reopen on March 21st.



Source link

Agrasmartcity

Welcome to India's Largest news platform, I assure you that we daily update on Global news which helps you to grow your knowledge.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
AllEscortAllEscort