Sensex Gains 118 Points, Nifty Settles At 10,616
Domestic stock markets closed in the green on Thursday led by metal, banking and financial services shares. The S&P BSE Sensex closed 118.55 points or 0.34 per cent higher at 35,260.54, while the broader NSE Nifty settled at 10,616.70, 40.40 points or 0.38 per cent. Major advancers on both the indices -- Nifty50 and 30-scrip Sensex -- were Adani Ports, Tata Motors, Axis Bank and Hero MotoCorp, which gained between 4.2 and 1.8 per cent. Twenty-nine out of 50 Nifty stocks finished with gains. Most of the sectoral indices on NSE closed higher.
Jet Airways shares ended at Rs 326, up 26.41Â per cent from the previous close, after reports emerged that Tata Sons is in pursuit of a controlling stake in the debt-laden private sector carrier.Â
Gains in Indian stocks were bound to happen as they had earlier corrected because of higher crude prices, said news agency Reuters citing Neeraj Dewan, director at Quantum Securities.
Investor sentiment also got a boost after foreign investors pumped fresh funds into the domestic market, said news agency Press Trust of India citing brokers. However, profit-booking at higher levels by speculators at the fag-end of the session trimmed some of the day's gains, it further added.
Among prominent laggards was Yes Bank, which closed at Rs 206, down 7.28 per cent, after non-executive independent chairman Ashok Chawla resigned. The stock was the biggest loser on the 30-scrip BSE benchmark index.
The rupee strengthened to 71.87 against the US dollar in intraday trade at the interbank foreign exchange on Thursday on fresh foreign fund inflows and easing crude oil prices. Global oil prices have lost around a quarter of their value since early October, boding well for the rupee and boosting positive sentiment as cheaper oil lightens import bill and eases inflation.
On Wednesday, foreign portfolio investors bought while domestic institutional investors sold net shares worth Rs. 277.38 crore and Rs. 272.24 crore respectively, showed provisional NSE data.
(With agency inputs)
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
