Friday, November 22, 2024

Trending Topics

HomeBusinessSensex, Nifty zoom nearly 2 pc amid rally in global stocks

Sensex, Nifty zoom nearly 2 pc amid rally in global stocks

spot_img

Sensex, Nifty zoom nearly 2 pc amid rally in global stocks PTI Updated: November 11th, 2022, 16:07 IST in Business 0 Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin Mumbai: Equity benchmarks Sensex and Nifty Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said. Easing US inflation triggered speculation that the US Federal Reserve might slow down the pace of interest rate hikes.

The 30-share BSE Sensex zoomed 1,181. 34 points or 1. 95 per cent to settle at 61,795.

04. During the day, it witnessed a high of 61,840. 97 and a low of 61,311.

02. Likewise, the broader NSE Nifty rallied 321. 50 points or 1.

78 per cent to finish at 18,349. 70. Among Sensex stocks, HDFC emerged as the lead gainer, rising by 5.

84 per cent, followed by HDFC Bank, Infosys, Tech Mahindra, HCL Tech, TCS, Wipro, Tata Steel and Reliance Industries. On the other hand, M&M, SBI, Kotak Bank, Dr Reddy’s, ICICI Bank and NTPC were among the laggards. In the broader market, the BSE smallcap gauge gained 0.

15 per cent and the midcap index rose 0. 33 per cent. Financial markets rallied after the US consumer price index eased to 7.

4 per cent in October from 8. 2 per cent in September. Markets were on tenterhooks after the US Federal Reserve indicated more interest rate tightening to fight inflation.

The current US inflation data points to an early end of the interest rate hike cycle. In Asian markets, Hong Kong’s Hang Seng gained 7. 70 per cent while the Nikkei in Tokyo surged 2.

98 per cent. In Seoul, the Kospi rose 3. 37 per cent.

The Shanghai Composite index 1. 69 rallied per cent. Equity exchanges in Europe were also trading in the green in the afternoon session.

Stock exchanges in the US ended with significant gains Thursday. On the macroeconomic front, Moody’s Friday slashed India’s GDP growth projection to 7 per cent for 2022, saying that global slowdown and high domestic interest rates would dampen economic momentum. The rupee appreciated 62 paise to close at 80.

78 (provisional) against the US dollar Friday. Meanwhile, international oil benchmark Brent crude gained 2. 37 per cent to USD 95.

89 per barrel. Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Thursday, as they bought shares worth Rs 36. 06 crore, as per exchange data.

Tags: Global market Nifty Sensex share market Share Tweet Send Share Suggest A Correction Enter your email to get our daily news in your inbox. Leave this field empty if you’re human: Related Posts Rupee gains 62 paise to close at 80. 78 against US dollar November 11, 2022 Rupee gains 71 paise to 80.

69 against US dollar in early trade November 11, 2022 Sensex rises 809 points in early trade; Nifty above 18,000 November 11, 2022 India, China converging to high-income levels: Moody’s November 11, 2022 Govt keen to promote tilapia fish production; asks industry to set up hatcheries for quality seed November 10, 2022 Sensex falls over 410 pts to slip below 61k-level; Nifty retains 18,000 November 10, 2022 Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. .


From: orissapost
URL: https://www.orissapost.com/sensex-nifty-zoom-nearly-2-pc-amid-rally-in-global-stocks/

DTN
DTN
Dubai Tech News is the leading source of information for people working in the technology industry. We provide daily news coverage, keeping you abreast of the latest trends and developments in this exciting and rapidly growing sector.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Must Read

Related News