Indian shares defy global weakness to extend winning streak
时间:2024-06-26 08:48:11 阅读(143)
Indian shares ended higher for the third session in a row on Wednesday, in contrast to their Asian peers that fell after Federal Reserve Chair Jerome Powell warned of bigger interest rate hikes.
The Nifty 50 index added 0.24% to 17,754.40, while the S&P BSE Sensex closed 0.21% higher at 60,348.09.
Also Read: Markets Wrap – Wed, 8 Feb ‘23: Nifty, Sensex rise, rupee falls; Asia, US markets, Gold, Crude updates
The probability of a 50 basis point hike at the Fed’s policy meeting later this month has now risen above 70%.
Eight of the 13 major domestic sectoral indexes advanced, with high weightage financials and auto adding 0.13% and 0.85%, respectively.
However, the information technology (IT) index fell nearly 0.40%. IT companies earn a significant share of their revenue from the United States, making them sensitive to the possibility of higher rates curbing client spending.
The broader market, however, continued to benefit from U.S. boutique investment firm GQG Partners’ vote of confidence in the Adani group, with its $1.87 billion investment earlier this month.
Also Read: Petrol and Diesel Rate Today, 8 March: Fuel prices unchanged; Check rates in Delhi, Mumbai, other cities
Adani Enterprises and Adani Ports added 2.83% and 3.11%, respectively, and were among the top Nifty 50 gainers.
“Foreign investors turning buyers in Indian equities over the last three sessions and the easing of concerns over Adani group are the only silver-linings for our markets,” said Anita Gandhi, director at Arihant Capital Markets.
Among stocks, IndusInd Bank jumped nearly 5% to the top of the Nifty 50 after a report said its chief executive officer’s term could be extended.
Bajaj Auto gained 2.31% after analysts projected a recovery in its domestic two-wheelers business next fiscal year.
猜你喜欢
- Bengaluru to become ‘Sports Hub of India’, says Minister Anurag Thakur as sports infra boosts under Khelo India scheme
- Parliament security breach- 5 of six accused consent to polygraph test, Neelam Azad refuses
- BPCL share price tumbles as firm reports losses in Q1; analysts mixed on outlook, check target price
- Rupee opens marginally higher, may depreciate on strong US dollar, risk aversion in global markets
- Saint-Gobain lines up investments across biz segments in Tamil Nadu
- Bulls drive Sensex higher, Nifty ends F&O expiry session above 16900, 17000 may be on the cards soon
- OnePlus 10 Pro first look in pictures- Design, specs, features, and everything to know
- Biocon Biologics partners with Sandoz for distribution of its biosimilar to treat immune-related diseases in Japan
- On the shelf- Here are some of the books that you may find interesting