Record made ingenious
The market was trading in the green since morning but around 2 o’clock Sensex and Nifty suddenly gained momentum. The reason behind this market surge is the US data. In line with global gains, Indian benchmark stock indices Sensex and Nifty rose over 1% on Thursday. Expectations of increased foreign investment in domestic stocks have strengthened following the US inflation data, which has reinforced the prediction of a 25 basis point interest rate cut by the Federal Reserve.
Understanding the market game in 10 points.
- Airtel, RIL, HDFC Bank and Infosys together added around 500 points to the Sensex.
- The market capitalisation of BSE-listed companies rose by Rs 4.76 lakh crore in a day.
- HDFC Bank and Bharti Airtel were the top performers in Sensex.
- Sensex touched the 82,000 mark again, while Nifty was trading above the 25,200 mark.
- Gold prices rose on expectations of an interest rate cut by the Federal Reserve.
- Thanks to UBS’ coverage, Zomato shares hit record highs.
- At Paytm AGM, Vijay Shekhar Sharma said that we will focus on PAT profitability and will reapply for payment license.
- Following the signing of the MoU, shares of NBCC and MTNL also saw a surge of up to 5%.
- Block deal: Honasa Consumer: 10.9% of shares traded, leading to a drop in its shares.
- Sensex opened 400 points higher, while Nifty started trading above 25,050.
