Sensex, Nifty climb in early trade in special trading session
The Hindu
Sensex updates on special session on May 18, 2024
Equity benchmark indices climbed in early trade in a special trading session on Saturday, May 18, 2024, extending their rally to the third day running, amid fresh foreign fund inflows.
The 30-share BSE Sensex climbed 158.01 points to 74,075.04 in early trade. The NSE Nifty went up by 53.75 points to 22,519.85.
Among the Sensex components, Power Grid, Nestle, Asian Paints, IndusInd Bank and Tata Steel were the major gainers.
JSW Steel and Axis Bank were the laggards.
Wall Street ended mostly higher on Friday.
"The Dow Jones Industrial Average has hit 40,000 for the first time, buoyed by optimism from a softer-than-expected April inflation report, which has increased bets on a September rate cut by the Federal Reserve.
"This positive sentiment extends to Indian markets, with the Nifty likely trading between 22,000-22,500, facing resistance at 22,500 and support at 22,000," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
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