Sensex up 450pts, Nifty near 21,600; Infy, TCS, RIL lead
Mirroring the positive trend in global peers, Indian equity benchmark indices started Wednesday’s trading session with decent gains.
The S&P BSE Sensex opened with a gap-up of over 200 points at 71,648, and soon rallied to a high of 71,851. The NSE Nifty 50 was seen quoting atop 21,550 level.
Tech Mahindra was the top gainer among the IT pack, up 2 per cent. Wipro, TCS and Infosys also gained over 1 per cent each. Reliance, IndusInd Bank and NTPC were the other prominent gainers among the Sensex 30.
Brokerage firm, HDFC Securities in their market outlook for 2024, expect another 8-10 per cent gain on the benchmark indices in 2024. READ MORE
Today, among individual shares, DOMS and India Shelter Home will be in focus as they mark their debut on the bourses.
Meanwhile, overnight the US markets ended with near the highs of the day, with gains of up to 0.7 per cent as the Fed rate-cut hope rally continued. Dow Jones scaled fresh a peak, while the S&P 500 is now withing 1 per cent of a new all-time high.
That apart, the People’s Bank of China held its one-year loan prime rate at 3.45 per cent, while the five-year benchmark loan rate was unchanged at 4.2 per cent.
Among key markets in Asia, Nikkei was up 1.7 per cent, Hang Seng 1.25 per cent, Kospi 1 per cent, and ASX 200 0.5 per cent.