Sensex is up more than 850 points on strong global signals; Nifty Trades over 17,200

Sensex and Nifty rose in the deals that opened on Thursday.

New Delhi:

India’s stock benchmark rose in deals opened on Thursday 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 material 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 of its remaining meetings this year to aggressively eliminate inflation.

Returning home, the trend of Nifty Futures on the Singapore Stock Exchange, also known as SGX Nifty Futures, also indicated a positive opening of internal indices.

The 30-share BSE Sensex rose 851 points or 1.50 per cent to 57,667, while the broader NSE Nifty rose 228 points or 1.34 per cent to 17,203.

The Nifty Midcap 100 index, which was trading on a strong note in mid- and low-capitalization shares, rose 1.36 percent, while low-capital shares gained 1.02 percent.

All 15 sector gauges – collected by the National Stock Exchange – were traded in green. Nifty Financial Services and Nifty Bank were up the index, rising 2.03 percent and 1.95 percent, respectively.

In terms of specific shares, HDFC was Nifty’s biggest gain as shares rose 2.75 per cent to Rs 2,355.10. Axis Bank, Tata Consumer Products, JSW Steel and Kotak Mahindra Bank were also among the gains.

The overall market width was positive as 2,101 shares were advancing and 510 BSE was falling.

In the 30-share BSE index, HDFC, Axis Bank, IndusInd Bank, Kotak Mahindra Bank, Asian Paints, HDFC Bank and Bajaj Finance were among the main gains.

Sensex added 1,040 points or 1.86 percentage points to close at 56,817 on Wednesday, while Nifty moved 312 points or 1.87 percent higher to settle at 16,975.

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