Last Updated: November 03, 2023, 09:49 IST
Sensex Today: Mirroring robust cues from the worldwide counterparts, India’s key benchmark indices began Friday’s buying and selling session on an upbeat be aware.
The S&P BSE Sensex opened 364 factors larger at 64,445 and was seen quoting round 64,450 ranges. The NSE Nifty 50 was up over 100 factors round 19,250.
Tata Motors rallied practically 4 per cent on the again of robust Q2 outcomes. Tech Mahindra, Infosys, ICICI Bank, Mahindra & Mahindra and HCL Technologies had been the opposite outstanding gainers among the many Sensex 30 shares.
The broader indices additionally moved in tandem with benchmark indices, and had been up round 0.5 per cent every.
Global Cues
Overnight, the US market ended with strong good points on investor optimism that Fed could also be executed with mountain climbing charges, and a pointy drop in 10-12 months Treasury yields to 4.67 per cent, its 3-week low.
Nearer house, Hang Seng, Nikkei and Kospi had been up over 1 per cent every. Straits Times rallied 1.6 per cent, whereas Taiwan added 0.3 per cent.
Dr. V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated: “Market history tells us that sharp up moves in the market happen at unexpected times. It appears that this truism is turning out to be true. The Fed decision to hold rates and refrain from making hawkish indications has emboldened the bulls to make a strong comeback in the mother market US with S&P rising 1.9% yesterday. Good earnings numbers and expectations that the interest rate will remain stable for now and will decline in H2 of CY2024 have facilitated market recovery.”
The constructive world sentiments can embolden the bulls in India to stage a comeback. Since FIIs are quick out there, quick masking is a chance, Vijakumar stated.
“Investors should remember that the buy on dips strategy has worked in this market. It is likely to work again. High quality large-caps in financials, automobiles and capital goods are on strong wicket. Mid-cap IT is doing well,” he added.
