Stock Markets Witness Gains Amid India-US Trade Talks, Sensex Tests 85,000, Nifty Over 26,000
At 9:15 AM today, the Sensex gained over 60 points to start trading over 84,600, while the Nifty inched up nearly 60 points to ring the opening bell above 25,900.
The domestic benchmark indices witnessed significant gains on Wednesday as the Sensex jumped over 400 points, closing at 85,037.08, while the Nifty rose more than 100 points to end above 26,000.
The top gainers in the 30-share BSE Sensex included stocks like Adani Ports, NTPC, PowerGrid, HCLTech and Tata Steel while the laggards included stocks such as Bajaj Finserv, Hindustan Unilever, Kotak Bank, L&T and Maruti.
In the broader markets, the Nifty Midcap 100 gained 0.64 per cent and volatility was lower. Sectorally, the Nifty Auto index tumbled 0.73 per cent and the Nifty Oil and Gas index gained 2.12 per cent.
At 9:15 AM today, the Sensex gained over 60 points to start trading over 84,600, while the Nifty inched up nearly 60 points to ring the opening bell above 25,900.
India-US Trade Talks
US President Donald Trump on October 29 said he holds "great respect" for Indian Prime Minister Narendra Modi and suggested that a trade agreement between the two nations could be announced soon.
Speaking at the APEC CEOs Summit in Gyeongju, South Korea, Trump said, “Going to do a trade deal with India.”
During his address, he also mentioned his discussions with Modi concerning the conflict with Pakistan. Describing the Indian leader, Trump said Modi is the “nicest looking guy” and “like a father.”
“He’s (PM Modi) a killer in negotiations, he’s tough as hell,” Trump added.
"Optimism over potential progress in India-US trade talks further lifted sentiment. The upcoming Fed decision remains a key event for global markets; although a 25-bps rate cut is widely anticipated, investors will closely track its commentary for further rate cuts, which will guide the future market trajectory," Vinod Nair, Head of Research, Geojit Investments Limited, said.
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