Mumbai: Sensex jumped by 540 points Nifty closed After buying and rally in metal, power and energy stocks above 22,000 level on Thursday global market After the US Fed estimated three rate cut this year.
Gaining for the second consecutive day, the Sensex jumped 0.8% to close at 72,641. During the day, it rose 781 points or 1.1% to 72,882. The Nifty rose 173 points or 0.8% to 22,012. NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and L&T were the top gainers in the Sensex. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were among the laggards.
In Asian markets, Seoul, Tokyo and Hong Kong closed significantly higher, while Shanghai closed lower. European markets were trading in positive territory. Wall Street ended Wednesday with notable gains. S&S reached all-time high. The Dow Jones and Nasdaq also reached record highs.
Vinod Nair, head of research at Geojit Financial Services, said, “The domestic market is taking a cue of optimism from the global market as the Federal Reserve indicated to remain on track to cut three interest rates this year despite inflation remaining above its long-term target. Have given.” Wall Street’s main stock indexes also hit record highs on Thursday, as chip stocks rose after an upbeat forecast from Micron Technology. Ajit Mishra, SVP (Technical Research), Religare Broking, said the market bounced strongly following favorable global cues and gained about one per cent. “Today the immediate hurdle of short-term moving average i.e. 20 EMA was tested but could not cross it,” Mishra said. We may see some consolidation now and stability above 22,200 is needed to mark any meaningful correction.”
Gaining for the second consecutive day, the Sensex jumped 0.8% to close at 72,641. During the day, it rose 781 points or 1.1% to 72,882. The Nifty rose 173 points or 0.8% to 22,012. NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and L&T were the top gainers in the Sensex. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were among the laggards.
In Asian markets, Seoul, Tokyo and Hong Kong closed significantly higher, while Shanghai closed lower. European markets were trading in positive territory. Wall Street ended Wednesday with notable gains. S&S reached all-time high. The Dow Jones and Nasdaq also reached record highs.
Vinod Nair, head of research at Geojit Financial Services, said, “The domestic market is taking a cue of optimism from the global market as the Federal Reserve indicated to remain on track to cut three interest rates this year despite inflation remaining above its long-term target. Have given.” Wall Street’s main stock indexes also hit record highs on Thursday, as chip stocks rose after an upbeat forecast from Micron Technology. Ajit Mishra, SVP (Technical Research), Religare Broking, said the market bounced strongly following favorable global cues and gained about one per cent. “Today the immediate hurdle of short-term moving average i.e. 20 EMA was tested but could not cross it,” Mishra said. We may see some consolidation now and stability above 22,200 is needed to mark any meaningful correction.”