Equity benchmark indices climbed in early trade in a special trading session on Saturday, May 18, 2024, extending their rally to the third day operating, amid contemporary overseas fund inflows.
The 30-share BSE Sensex climbed 158.01 factors to 74,075.04 in early trade. The NSE Nifty went up by 53.75 factors to 22,519.85.
Among the Sensex elements, Power Grid, Nestle, Asian Paints, IndusInd Bank and Tata Steel have been the foremost gainers.
JSW Steel and Axis Bank have been the laggards.
Wall Street ended principally greater on Friday.
“The Dow Jones Industrial Average has hit 40,000 for the first time, buoyed by optimism from a softer-than-expected April inflation report, which has increased bets on a September rate cut by the Federal Reserve.
“This optimistic sentiment extends to Indian markets, with the Nifty probably trading between 22,000-22,500, going through resistance at 22,500 and assist at 22,000,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Foreign Institutional Investors (FIIs) turned buyers on Friday after days of unabated outflows. They bought equities worth Rs 1,616.79 crore on Friday, according to exchange data.
“Dow Jones closing in document territory above 40,000 will proceed to supply international assist for fairness markets. A major development now’s the FIIs turning consumers yesterday, and this takes away the stress on the markets,” stated V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.85 per cent to USD 83.98 a barrel.
The BSE benchmark climbed 253.31 factors or 0.34 per cent to settle at 73,917.03 on Friday. The NSE Nifty superior 62.25 factors or 0.28 per cent to 22,466.10.
The National Stock Exchange (NSE) on May 7 stated it should conduct a special trading session in the fairness and fairness spinoff segments on May 18 to verify its preparedness to deal with main disruption or failure on the major website.
The special dwell trading session may have an intra-day switchover from the Primary Site (PR) to the Disaster Recovery (DR) website.
In a round, the alternate stated there shall be two classes — the primary from 9:15 am to 10 am from the PR, and the second from 11:30 am to 12:30 pm from the DR website.
Earlier on March 2 (Saturday), the BSE and NSE carried out a special trading session in the fairness and fairness spinoff segments.
