Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Sensex, Nifty surge in early trade tracking rally in global peers

by | Aug 16, 2024

Mumbai: Equity benchmark indices Sensex and Nifty surged in early trade on Friday following a sharp rally in global markets along with buying in IT stocks and Reliance Industries.

The 30-share BSE Sensex jumped 805.96 points to 79,911.84 in early trade. The NSE Nifty surged 252.05 points to 24,395.80.

All the 30 Sensex firms were trading higher in early trade. Mahindra & Mahindra, Tata Motors, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Reliance Industries, ICICI Bank, JSW Steel, Infosys and IndusInd Bank were the biggest gainers.

“Globally stock markets have turned around smartly from the August 5th sell off triggered by US recession fears and the unwinding of the yen carry trade. Latest data on US inflation and unemployment relief do not indicate an economy tipping into recession. On the other hand, the 2.9% annual inflation number and slightly softening labour markets set the stage for a Fed rate cut in September, which the market is pencilling in now,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

IIM Raipur’s New MBA Batch Begins Its Leadership Journey

IIM Raipur’s New MBA Batch Begins Its Leadership Journey

Raipur, (Press Release)Indian Institute of Management (IIM) Raipur, a leading institution recognized for #BuildingBusinessOwners, hosted the Inauguration and Orientation Program for the MBA Batch 2025–27, marking the beginning of a transformative academic journey...

Hyderabad: A Thriving Hub of Opportunities, Business, and Innovation

Hyderabad: A Thriving Hub of Opportunities, Business, and Innovation

Maeeshat News Network | Hyderabad Hyderabad, the capital city of Telangana, India, has emerged as a dynamic powerhouse of opportunities, business, and innovation over the past few decades. Known historically for its rich cultural heritage, architectural marvels like...

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *