From the 30 Sensex companies, Kotak Mahindra Bank, JSW Steel, HDFC Bank, Power Grid, IndusInd Bank, Maruti Suzuki India, NTPC, Axis Bank and Mahindra & Mahindra were among the gainers. File
| Photo Credit: Reuters
Equity benchmark indices Sensex and Nifty settled higher on Thursday (October 10, 2024) due to gains in banking, power and industrial stocks amid a firm trend in global markets.
The 30-share Bombay Stock Exchange (BSE) Sensex rose 144.31 points, or 0.18%, to settle at 81,611.41. During the day, it soared 535.74 points, or 0.65%, to hit an intra-day high of 82,002.84.
The National Stock Exchange (NSE) Nifty increased 16.50 points, or 0.07%, to close at 24,998.45.
In the intra-day trade, it rose 152.1 points, or 0.60%, to hit a high of 25,134.05. The market traded on a range-bound trend with a negative bias ahead of the start of the Q2 result.
“The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key U.S. inflation data, global bond yields are rising,” Vinod Nair, Head of Research at Geojit Financial Services, said.
From the 30 Sensex companies, Kotak Mahindra Bank, JSW Steel, HDFC Bank, Power Grid, IndusInd Bank, Maruti Suzuki India, NTPC, Axis Bank and Mahindra & Mahindra were among the gainers.
Tech Mahindra, Sun Pharmaceuticals, Infosys, Titan, Tata Motors, Larsen & Toubro and Tata Consultancy Services were among the laggards.
โDomestic broader market momentum was mixed with caution as the initial expectation of Q2FY25 results is subdued due to a subpar momentum in the global and rural demand,โ Mr. Nair added.
Also Read: Ratan Tataโs final rites
Shares of Tata Group companies on Thursday (October 10, 2024) rose up to 15%, with Tata Investment Corporation, Tata Chemicals, and Tata Teleservices among the major gainers.
Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday (October 9, 2024). He was 86.
European markets were trading lower in the mid-session deals. Global oil benchmark Brent Crude climbed 1.37% to $77.63 a barrel in futures trade.
In Asian markets, Tokyo, Hong Kong, Shanghai and Seoul were closed higher. U.S. markets ended with gains on Wednesday (October 9, 2024).
Foreign Institutional Investors (FIIs) offloaded equities worth โน4,562.71 crore on Wednesday (October 9, 2024), while Domestic Institutional Investors (DIIs) bought equities worth โน3,508.61 crore, according to exchange data.
On Wednesday (October 9, 2024), the 30-share BSE Sensex fell 167.71 points to close at 81,467.1 while the NSE Nifty dropped 31.20 points to end at 24,981.95.
Published – October 10, 2024 04:48 pm IST
