Stock Market LIVE Updates: GIFT Nifty indicates a firm start; US, Asian markets gain
Asian stocks rose on Tuesday to their highest in more than two and half years, boosted by a slew of Chinese stimulus measures while expectations for more U.S. rate cuts kept risk sentiment aloft and the dollar under pressure.
Trends on GIFT Nifty indicate a higher start for the broader index in India, with a gain of 57 points or 0.22 percent. The Nifty futures were trading around 25,992.5 level.
Mobikwik, and Waaree Energies have received approval from the capital markets regulator SEBI to raise funds via initial public offering. The regulator had issued observation letters on September 19.
In Sebi parlance, the issuance of observation letter means the company can launch its IPO within one year from the receipt of the letter. Read More
Experts suggest that the bulls may drive the Nifty 50 above the 26,000 mark soon, with the next resistance level at 26,200. However, if it fails to surpass that, the index may consolidate, with immediate support at 25,800 and crucial support at 25,500….Read More
Global stock indexes rose on Monday as Federal Reserve policymakers said last week’s large interest rate cut was warranted, while the euro fell against the dollar as business activity readings of the euro zone economy disappointed.
U.S. Treasury yields rose as bond investors continued to price out a near-term recession in the world’s largest economy.
The Dow Jones Industrial Average rose 61.29 points, or 0.15%, to 42,124.65, the S&P 500 rose 16.02 points, or 0.28%, to 5,718.57 and the Nasdaq Composite rose 25.95 points, or 0.14%, to 17,974.27.
Market extended gains on the third straight session on September 23 to hit fresh record highs with Nifty crossing 25,950 amid buying across the sectors barring Information Technology stocks.
At close, the Sensex was up 384.30 points or 0.45 percent at 84,928.61, and the Nifty was up 148.05 points or 0.57 percent at 25,939.
Top Nifty gainers were M&M, ONGC, Bajaj Auto, SBI Life Insurance, Hero MotoCorp, while losers were Eicher Motors, Divis Labs, ICICI Bank, Tech Mahindra and IndusInd Bank.
Among sectors, PSU Bank index rose more than 3 percent, Realty index was up over 2 percent, while auto, energy, FMCG, metal, pharma, media up 0.5-1 percent. However, Information Technology index shed 0.5 percent.
The BSE midcap index and smallcap indices were up 0.7 percent each.