Stock market trading on green mark; Sensex rises 500 points, Nifty crosses 25000
New Delhi| Indian major equity indices also opened higher on Thursday due to a positive trend among global competitors, after minutes of the Federal Reserve’s latest policy meeting indicated further interest rate cuts in the US. BSE Sensex was trading at 81,980.40, up 513 points or 0.63% in early trade. The Nifty50 rose by 130 points, or 0.52%, to 25,112.65. Investors in the market will focus on Thursday’s inflation data, especially the Consumer Price Index (CPI), to get a trend on the Fed’s further decision. Apart from this, the market will also keep an eye on the results of the companies.
Among Sensex’s stocks, L&T, Power Grid, M&M, NTPC and Tata Steel were the top beneficiaries and these increased by more than 1% each. In contrast, Infosys, Tata Motors, Tech Mahindra, Hindustan Unilever and Asian Paints were seen trading in decline.
L&T shares rose nearly 2% in early trading after Rashtriya Chemicals awarded L&T a Rs 1,000 crore contract for a new fertilizer plant in Maharashtra. The broader, more domestically focused Nifty Smallcap 100 and Midcap 100 each grew by more than 0.5%.
