The Indian stock market began Thursday’s trading session on a positive note, buoyed by favorable global cues, including optimism surrounding a potential resolution to the Gaza conflict. This optimism was reflected in robust buying activity within the public sector bank (PSU) and financial service sectors.
As of 9:22 AM, the Sensex was up by 433.66 points, or 0.57%, trading at 77,157.74. Similarly, the Nifty gained 135.95 points, or 0.59%, reaching 23,349.15.
The National Stock Exchange (NSE) saw a positive breadth, with 1,175 stocks advancing, compared to 139 stocks in the red. The Nifty Bank index surged by 526.50 points, or 1.08%, to 49,278.20, while the Nifty Midcap 100 index rose by 774.70 points, or 1.44%, to 54,673.70. The Nifty Smallcap 100 index saw a significant gain of 282.90 points, or 1.63%, reaching 17,636.85.
Market analysts attributed the positive market movement to several global developments. Key macroeconomic indicators from the US, including a decline in bond yields and the dollar index, have provided a more optimistic outlook. Experts noted that the dip in the dollar index and lower-than-expected US CPI inflation have reignited hopes for additional rate cuts by the Federal Reserve in 2025. The possibility of an end to the Gaza conflict has also contributed to the overall positive sentiment.
In the Sensex index, top gainers included Zomato, Adani Ports, Tech Mahindra, IndusInd Bank, SBI, UltraTech Cement, and Bajaj Finserv. On the other hand, Hindustan Unilever Limited, ITC, Nestle India, and Titan faced losses.
Over in the US, major indices closed strongly in the previous session. The Dow Jones climbed 1.65%, closing at 43,221.55, while the S&P 500 rose by 1.83%, ending at 5,949.91. The Nasdaq surged by 2.45%, closing at 19,511.23.
In the Asian markets, major indices across China, Bangkok, Jakarta, Seoul, Hong Kong, and Japan were all trading in the green, reflecting the broader positive market sentiment.
On the domestic front, foreign institutional investors (FIIs) sold equities worth Rs 4,533.49 crore on January 15, while domestic institutional investors (DIIs) made purchases worth Rs 3,682.54 crore on the same day, indicating contrasting investment flows.
Overall, the Indian market’s upward momentum is fueled by a favorable global backdrop, coupled with investor optimism about the economic and geopolitical landscape.
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