Mumbai: The Sensex rose 428.83 points to 81,951.99 in early trade on September 12, 2024 (Thursday), while the Nifty climbed 154.1 points to 25,072.55. The equity benchmark indices regained after a rally was reported in global markets and foreign fund inflows.
30 Sensex pack gainers: State Bank of India, Kotak Mahindra Bank, Bharti Airtel, Tech Mahindra, Tata Steel, and Adani Ports. Laggards included, Bajaj Finserv, Asian Paints, Nestle, and Tata Motors.
Asian markets, including Hong Kong, Seoul, and Tokyo were trading with significant gains while Shanghai was trading on lower note. The US markets ended with major jump on September 11.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said the markets have reacted positively due to the US inflation numbers.
“Latest US inflation numbers are mildly positive for markets. August CPI inflation coming at 0.2 per cent has brought down the 12-month inflation to 2.5 per cent from 2.9 per cent earlier. This paves the way for a rate cut by the Fed in September. But since core inflation continues to remain high at 3.2 per cent the Fed is likely to be cautious and refrain from a 50 bps rate cut, finally settling for a 25 bps rate cut,” said Vijayakumar.
Vijayakumar also mentioned that FIIs have tuned buyers in the cash market during is another indication that the market will continue to be resilient.
According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,755 crore on September 11, 2024.
The BSE benchmark declined 398.13 points to close at 81,523.16 on 11th September. The Nifty dropped 122.65 points to 24,918.45.
Stock Market today: The Sensex rose 428.83 points to 81,951.99 in early trade on September 12, 2024 (Thursday), while the Nifty climbed 154.1 points to 25,072.55. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
