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Indian benchmark equity indices, BSE Sensex and Nifty 50, opened up with a controlled yet favorable prejudice on Tuesday
Stock Market Updates
Sensex Today: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading reduced on Tuesday.
At 1 PM, the BSE Sensex went to 81,353.63, reduced by 154.83 factors, or 0.19 percent, while the Nifty 50 went to 24,561.90, behind by 57.10 factors, or 0.23 percent.
Among the 30 component supplies in the BSE Sensex index, over half were trading greater. Gains were led by Tata Motors (up 0.84 percent), complied with by Infosys, HCLTech, Bajaj Finance, and JSW Steel, while losses were covered by Mahindra & & Mahindra( down 1.08 percent), complied with by Tech Mahindra, Axis Bank, Maruti Suzuki India, and UltraTech Cement
In the Nifty 50 index, 33 supplies out of the 50 in the index were trading greater, with gains led by Shriram Finance (up 2.19 percent), complied with by Apollo Hospital Enterprises, HCLTech, Wipro, and Infosys, while losses were covered by Mahindra & & Mahindra (down 1.19 percent), complied with by Bajaj Auto, Tech Mahindra, UltraTech Cement, and Trent.
Across sectoral indices, the Auto, OMC and Consumer Durables indices were under stress, dropping 0.28 percent, 0.14 percent, and 0.09 percent specifically. On the other side, the Realty index had actually climbed up 0.83 percent, complied with by IT, Healthcare and Pharma indices.
Meanwhile, in the more comprehensive markets, the Nifty Smallcap 100 index had actually climbed up 0.28 percent, complied with by the Nifty Midcap 100 index, which was partially up by 0.03 percent.
Anand James, Chief Market Strategist at Geojit Financial Services, claimed: “Yesterday’s sluggish decrease and combination at 24,600 establish a home window for an increase early today. But we will certainly await constant professions over 24,740 to chase after rallies. Be advised of slippages to 24,530-24,380 must Nifty reveal hesitation to drift over 24,650. Alternatively, a straight increase over 24,740 can ask for substantial advantages, yet we do not see sufficient energy to obtain us to 25,262-600 immediately.”
Global Cues
Markets in the Asia-Pacific region were generally positive on Tuesday, with traders reacting to Beijing’s announcement of “more proactive” monetary actions and a “reasonably” looser monetary policy next year, aimed at boosting domestic consumption.
Hong Kong’s Hang Seng index, which had surged nearly 3% following the announcement, extended its gains by another 3.2% on Tuesday. Similarly, the CSI 300 was up by 3.66%, and the Shanghai Composite gained 2.58%.
In Japan, the Nikkei 225 rose by 0.32%, while the Topix increased by 0.41%. South Korea’s Kospi gained 2.27%, and the small-cap Kosdaq was up by 4.6%, although investors in the region continued to monitor the ongoing political situation.
However, global equities had dipped on Monday, as traders focused on US inflation data, while chip stocks experienced losses. Meanwhile, oil and gold prices rose more than 1% due to Beijing’s promise of more stimulus measures and the sudden collapse of the Syrian government.
The release of US inflation data this week could influence expectations for a December interest rate cut by the Federal Reserve. China’s shift in its stance toward monetary policy marked its first change since 2010, with Beijing pledging stimulus to encourage growth in the coming year.
The rapid collapse of Syrian President Bashar al-Assad’s 24-year regime added to tensions in the Middle East, further complicating an already volatile situation.
On Friday, US employment data was strong enough to ease concerns about economic resilience, but not robust enough to rule out a rate cut by the Federal Reserve.
MSCI’s global stock index fell 0.23%, or 2.05 points, to 871.68, while US stock markets saw declines: The Dow Jones Industrial Average dropped 240.59 points (0.54%) to 44,401.93, the S&P 500 fell 37.42 points (0.61%) to 6,052.85, and the Nasdaq Composite lost 123.08 points (0.62%) to 19,736.69. Chipmaker Nvidia saw a 2.5% drop after China’s market regulator launched an investigation into the company for suspected anti-monopoly violations.
On a positive note, European shares closed at their highest levels in six weeks on Monday, led by mining and luxury stocks. The STOXX 600 index edged up 0.1%, marking its eighth consecutive session of gains.
