Sensex, Nifty jump on rally in global markets
The Hindu
Mumbai equity indices jump in early trade on global rally; JSW Steel, Tech Mahindra, Tata Steel, Infosys, Wipro, TCS, HCL Tech, Axis Bank gain. U.S. inflation data a game changer; Fed done with rate hikes, timeline for rate cuts in 2024 likely to be advanced.
Benchmark equity indices jumped in early trade on Wednesday amid a rally in global markets on favourable U.S. inflation data.
The 30-share BSE Sensex jumped 645.08 points to 65,578.95 in early trade. The Nifty climbed 209.8 points to 19,653.35.
Among the Sensex firms, JSW Steel, Tech Mahindra, Tata Steel, Infosys, Wipro, Tata Consultancy Services, HCL Technologies and Axis Bank were the major gainers.
Power Grid, Nestle, Mahindra & Mahindra and Asian Paints were the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.
The U.S. markets ended with significant gains on Tuesday.
Rupee drops 23 paise to 89.94 against the dollar amid negative equity trends and rising crude prices.
The commencement of commercial flight from the Navi Mumbai International Airport (NMIA) is expected to speed up infrastructure and real estate development across Navi Mumbai and surrounding regions, analysts & industry executives said.
GCCs keep India’s tech job market alive, even as IT services industry embarks on a hiring moratorium
Global Capability Centres, offshore subsidiaries set up by multinational corporations, mostly known by an acronym GCCs, are now the primary engine sustaining India’s tech job market, contrasting sharply with the hiring slowdown witnessed by large firms in the country.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
In one more instance of a wholly owned subsidiary of a Chinese multinational company in India getting ‘Indianised’, Bharti Enterprises, a diversified business conglomerate with interests in telecom, real estate, financial services and food processing among others, and the local arm of private equity major Warburg Pincus have announced to collectively own a 49% stake in Haier India, a subsidiary of the Haier Group which is headquartered in Qingdao, Shandong, China.
Indian stock markets closed lower amid volatility, with key firms lagging as global trends influenced trading activity.
Bharti and Warburg Pincus invest in Haier India, acquiring a 49% stake to enhance growth and innovation in consumer durables.
India's net FDI remains negative for October 2025, with outflows surpassing inflows amid trade deal uncertainties.
Bombay High Court halts fraud notices to Anil Ambani, questioning banks' compliance and the audit's validity.
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