Stock, Share Market News Today: Sensex surges 427 factors, Nifty settles above 16,100-mark; metals, PSU banks rally

The benchmark indices, Nifty and Sensex, ended almost 1 per cent larger on Thursday led by metals and banking shares amid optimistic cues in international market.

The S&P BSE Sensex rallied 427.49 factors (0.80 per cent) to finish at 54,178.46 whereas the Nifty 50 rose 143.10 factors (0.89 per cent) to settle at 16,132.90. Both the indices had opened round 0.5 per cent larger earlier within the day and traded within the inexperienced all through the session with the Sensex touching an intraday excessive of 54,254.79 and the broader Nifty hitting 16,150.50.

Among the Sensex pack, Titan Company, Tata Steel, Larsen & Toubro (L&T), IndusInd Bank, Mahindra & Mahindra (M&M), ICICI Bank, Kotak Mahindra Bank, HDFC Bank and State Bank of India have been the highest gainers. In distinction, Dr. Reddy’s Laboratories, Nestle India, Reliance Industries (RIL), Bharti Airtel, Hindustan Unilver (HUL) and Bajaj Finance ended decrease.

Among sectoral indices on NSE, the Nifty Metal index surged 3.79 per cent, Nifty PSU Bank rallied 3.42 per cent, Nifty Realty jumped 2.62 per cent and Nifty Consumer Durables gained 2.64 per cent. The key Bank Nifty too rose 1.74 per cent.

In the broader market, the S&P BSE MidCap index ended at 22,611.38, rising 265.32 factors (1.19 per cent) whereas the S&P BSE SmallCap climbed 328.87 factors (1.30 per cent) to settle at 25,568.55. The volatility index or India VIX fell 5.25 per cent to 19.20.

“Domestic bourses mirrored an upbeat mood in global equity markets as investors digested the latest FOMC minutes while falling crude and commodity prices lifted investor sentiments. This upside momentum could dominate the markets in the near term, underpinned by hopes of reducing inflation. The RBI’s latest slew of measures to boost foreign exchange inflows is expected to aid the tumbling rupee,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from AP)

Global inventory markets and Wall Street futures gained Thursday after decrease oil costs helped to offset fears about surging inflation the Federal Reserve mentioned may require extra US rate of interest hikes.

London and Frankfurt opened larger. Shanghai, Tokyo and Hong Kong superior.

In early buying and selling, the FTSE 100 in London gained 0.7 per cent to 7,156.84. The DAX in Frankfurt added 1.4 per cent to 12,775.06 and the CAC 40 in Paris superior 1.3 per cent to five,989.14.

On Wall Street, the longer term for the benchmark S&P 500 index was up 0.2 per cent after notes launched Wednesday from the newest Fed assembly mentioned “an even more restrictive stance could be appropriate” to get inflation again to its 2 per cent goal.

In Asia, the Shanghai Composite Index rose 0.3 per cent to three,364.40 and the Nikkei 225 in Tokyo gained 1.5 per cent to 26,490.53. The Hang Seng in Hong Kong closed 0.3 per cent larger at 21,643.58 after spending a lot of the day in unfavorable territory. The Kospi in Seoul climbed 1.8 per cent to 2,334.27 and Sydney’s S&P-ASX 200 was up 0.8 per cent at 6,648.00.