Sensex rose 145 points to level at 62,678, Nifty in the green at 18,660 | Jobs Vox


The benchmark Sensex and Nifti ended higher on Wednesday, extending the previous day amid lower inflation on the domestic front and a better-than-expected inflation reading in the US.

The 30-share BSE Sensex rose 144.61 points or 0.23 percent to settle at 62,677.91. During the day, it jumped by 301.81 points or 0.48 percent to 62,835.11.

The broader NSE Nifty advanced 52.30 points or 0.28 percent to end at 18,660.30.

Of the Sensex pack, Tech Mahindra, Tata Steel, NTPC, IndusInd Bank, State Bank of India, Power Grid, HCL Technologies, Tata Consultancy Services and Larsen & Toubro were the major winners.

Nestle, Bharti Airtel, ICICI Bank, Asian Paints, Hindustan Unilever and UltraTech Cement were among the laggards.

“Better-than-expected inflation readings in the world’s major economies, combined with increased appetite for IT stocks, helped domestic market sentiment.” A softening of US inflation to 7.1 percent in November will reduce the chances of the Fed being hawkish. Although the Fed is widely expected to raise rates by 50 basis points, their comments on future inflation and rate changes would dominate market movements,” said Vinod Nair, head of research at Geojit Financial Services.

Elsewhere in Asia, stock markets in Seoul, Tokyo, Shanghai and Hong Kong ended positively.

Stocks in Europe traded lower in mid-session deals. US markets ended higher on Tuesday.

Inflation based on wholesale prices fell to a 21-month low of 5.85 percent in November as food, fuel and manufactured goods prices softened.

“All eyes will be on the US Federal Open Market Committee (FOMC) interest rate meeting later in the day as the outcome would set the tone for the rest of the equity markets across the globe,” said Prashanth Tapse – Research Analyst, Senior Vice President (Research) , Mehta Equities Ltd.

The international reference value of Brent oil fell by 0.06 percent to 80.63 dollars per barrel.

Foreign Institutional Investors (FIIs) converted buyers as they bought value stocks 619.92 crore on Tuesday, according to exchange data.


Source link

Implement tags. Simulate a mobile device using Chrome Dev Tools Device Mode. Scroll page to activate.