Kolkata: Will the last minute party witnessed on Thursday continue when the Indian stock market opens for trade on Friday, May 30? The answer could lie in the global cues. In the last 40 minutes, Sensex rose more than 330 points after wobbly trade throughout the day. Thanks to this surge in the closing stages, Sensex 30 and Nifty 50 rebounded after two days of decline. Investors celebrated as an US federal court blocked President Donald Trump’s sweeping reciprocal tariffs on imports that rocked the global markets for the past four months.
After volatile trade on Thursday for most of the day the Indian indices surged in the last 40 minutes or so, the late surge powering Sensex 30 to settle at 81,633.02, up 320.70 points or 0.39%, while NSE Nifty 50 went up by 81.15 points (0.33%) to close at 24,833.60. The session was also the occasion for monthly expiry in derivative contracts. Metal, realty, pharmaceuticals and information technology sector indices were the major gainers. In the Sensex basket the major gainers were IndusInd Bank, Sun Pharma, Adani Ports, Eternal, Tata Steel, Tech Mahindra and Axis Bank. Among the laggards featured Bajaj Finance, ITC, Bajaj Finserv and Asian Paints.
Global markets
On Thursday two of the three US market indices closed in the green — S&P500 rose 0.40% and Nasdaq increased 0.39% while Dow Jones came down marginally by 0.08%. In Europe all the major indices FTSE, CAC and DAX ended lower — FTSE by 0.11%, CAC by the same rate and DAX by 0.44%. On Friday morning, most of the Asian indices were trading in the red — Nikkei, Straits Times, Hang Seng, KOSPI and Shanghai Composite were all in the red. GIFT Nifty was, hoeever, trading in the green — up 0.03%.
Rupee versus Dollar and crude oil price
On May 29, the rupee declined 10 paise to close at 85.48 against the US dollar. The US currency was strong and global crude oil prices also displayed upward pressure. According to forex traders, positive sentiments in the domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said.
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Investors almost all over the world reacted positively to the news of US courts blocking President Donald Trump’s tariff moves. The question is, will the party continue in the Indian stock market when trading begins today (May 30)? Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
