Share Markets Gear For Another Bull Run, Sensex Over 85,700, Nifty Marginally Higher
The pre-open session also gave indications of a favourable session ahead for investors. Around 9:04 AM, the BSE benchmark soared closer to 85,800, while the Nifty gained over 70 points.
Dalal Street remained poised to start Thursday morning on a positive note after a hitting fresh highs in the session yesterday. The BSE Sensex opened trading above 85,700, jumping more than 100 points, while the NSE Nifty50 rang the opening bell near 26,200, inching up 15 points, around 9:15 AM.
On the 30-share Sensex, TMPV, M&M, L&T, BEL, and Axis Bank emerged among the gainers. Meanwhile, the laggards included Maruti, Titan, UltraTech Cement, Eternal, and Kotak Mahindra Bank.
In the broader markets, the Nifty Microcap250 stood out across the board with gains of 0.39 per cent. Sectorally, the Metal index led in green as it climbed 0.82 per cent, while the Consumer Durables index bled 0.53 per cent.
The pre-open session also gave indications of a favourable session ahead for investors. Around 9:04 AM, the BSE benchmark soared closer to 85,800, while the Nifty gained over 70 points.
Asian Markets And Foreign Investors
Asian equities traded higher on Thursday, with South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng all in the green. Overnight, Wall Street also ended on a firm note.
Foreign Institutional Investors (FIIs) were net buyers, picking up equities worth Rs 4,778.03 crore on Wednesday, while Domestic Institutional Investors (DIIs) added another Rs 6,247.93 crore, according to stock exchange data.
Improving global sentiment is being linked to rising expectations of a US Federal Reserve rate cut and the possibility of progress towards a Russia-Ukraine peace agreement, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Brent crude, the international benchmark, slipped 0.57 per cent to $62.77 a barrel.
Broader global markets have continued their upward momentum, supported by hopes of policy easing in the US. Key American indices, the S&P 500, Dow Jones and Nasdaq, notched another strong session as softer US Treasury yields and renewed optimism around monetary policy bolstered risk-taking.
“This positive mood has carried into Thursday’s Asian session as well, with regional markets opening on a stronger footing,” said Ponmudi R, CEO of Enrich Money, the online trading and wealth-tech platform.
Share Markets Recovered On November 26
Notably, Indian indices delivered a strong comeback on Wednesday, reversing a three-session decline, as domestic investors followed a sharp rally across global markets. Buying interest spanned most sectors, powered by expectations of a US Federal Reserve rate cut in December and improving fund flows from institutional investors.
The Sensex surged 1,022.50 points or 1.21 per cent to close at 85,609.51. NSE’s Nifty50 reclaimed the psychologically important 26,000 mark, gaining 320.50 points or 1.24 per cent to finish at 26,205.30.
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