Markets climb in early trade on buying in IT stocks, foreign fund inflows
The Hindu
Sensex and Nifty rise fueled by IT stock buying, US market rally, and foreign fund inflows.
Benchmark equity indices Sensex and Nifty maintained their winning run on Thursday, beginning the day on a firm note, propelled by buying in IT stocks amid a rally in the US markets and fresh foreign fund inflows.
Rallying for the fifth day running, the 30-share BSE benchmark Sensex climbed 242.54 points to 81,198.87 in early trade. The NSE Nifty went up by 72.5 points to 24,539.95.
From the 30-share pack, Infosys, Tata Consultancy Services, Bharti Airtel, UltraTech Cement, Titan, Tech Mahindra, Adani Ports and Bajaj Finance were the biggest gainers. NTPC, JSW Steel, Asian Paints and HDFC Bank were among the laggards.
The U.S. markets ended in the positive territory on Wednesday (December 4, 2024.) Foreign Institutional Investors (FIIs) bought equities worth ₹1,797.60 crore on Wednesday (December 4, 2024), according to exchange data.
"Dow moving past 45,000 for the first time is an indicator of the strength of the U.S. market rally. The macro construct in the U.S. — strong growth and declining inflation support this rally. The Fed chief Powell’s remark yesterday that the 'economy is in remarkably good shape' is a shot in the arm for the U.S. bulls," V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
“FIIs turning buyers is positive for markets, particularly for large caps,” he added. In Asian markets, Tokyo and Shanghai traded higher while Seoul and Hong Kong quoted lower. Global oil benchmark Brent crude went up 0.08% to $72.37 a barrel.
The BSE barometer climbed 110.58 points or 0.14% to settle at 80,956.33 on Wednesday (December 4, 2024.) The Nifty went up marginally by 10.30 points or 0.04% to 24,467.45.
India seeks alternative sources for specialty fertilizers from Belgium, Egypt, and others due to China's export restrictions.
India and Russia commit to enhancing trade in national currencies, aiming for $100 billion bilateral trade by 2030.
Stock markets soar as RBI cuts interest rates, with Sensex rising 447 points amidst positive investor sentiment and revised growth forecasts.
AAP's Raghav Chadha calls for banning 10-minute delivery services, highlighting the harsh conditions faced by gig workers.
IndiGo flight cancellations: Follow LIVE updates from The Hindu as IndiGo's operations face issues with over 400 flights cancelled today.
DGCA grants IndiGo exemption from night-duty limits for pilots amid widespread flight cancellations and operational disruptions.
RBI to launch a two-month campaign in January 2026 to address pending grievances with the Ombudsman for improved customer service.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
Stock markets experience volatility as investors await RBI's monetary policy amid foreign fund outflows and mixed global trends.
ED attaches assets worth ₹1,120 crore in Anil Ambani's Reliance Group case, totaling ₹10,000 crore amid money laundering probe.
Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.