Stock Market News: Domestic stock markets closed with slight gains on Thursday due to buying in information technology (IT) and tech stocks amid rising expectations regarding the US-India trade agreement. Amidst volatile trading, Sensex rose 130 points, while Nifty gained 23 points.
During trading, both BSE Sensex and NSE Nifty had reached 52-week high, but the gains remained limited due to profit-booking in the last hour. Apart from this, the market momentum also slowed down due to the fall of more than 1 percent in the shares of Reliance Industries.
There was a rise in these shares
The 30-share BSE Sensex closed at 84,556.40 points, up 130.06 points (0.15%). At one time during trading it had reached 85,290.06 points. At the same time, NSE’s 50-share Nifty closed at 25,891.40 points with a rise of 22.80 points (0.09%). Among Sensex companies, Infosys shares had the highest rise of 3.86%. Apart from this, shares of HCL Tech, TCS, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra also remained in progress. However, decline was recorded in ITC, UltraTech Cement, Bharti Airtel and Adani Ports.
Vinod Nair, Head of Research, Geojit Investments Limited, says that the start of the domestic market was positive, but due to US sanctions on two Russian petroleum companies and the fear of postponement of India-US trade talks, investors started booking profits. He said the Trump administration’s soft stance on H-1B visas and hopes for a possible India-US agreement have supported the rise in IT stocks.
According to Nair, factors like festive demand, income tax exemption, and GST cut are expected to improve corporate earnings in the second half of FY 2025-26, leading to FIIs (foreign institutional investors) gradually returning to Indian markets. In the broader market, BSE Smallcap index closed down 0.42% and Midcap index closed down 0.15%. Sector-wise performance was led by IT (2.36%), technology (1.17%) and banking (0.36%) sectors, while services, telecom, and energy sectors declined.
What do experts say?
Bajaj Broking Research said in its report that investors booked profits on early gains due to global trade uncertainty and lack of new triggers domestically. In Asian markets, Shanghai Composite and Hong Kong’s Hang Seng were on the rise, while South Korea’s Kospi and Japan’s Nikkei closed with a decline.
European markets remained mixed in afternoon trading, while American markets closed in negative territory on Wednesday. According to stock market data, FIIs made net purchase of shares worth Rs 96.72 crore on Tuesday. The price of global oil standard Brent crude rose 5.43% to $ 65.99 per barrel. The stock markets remained closed on Wednesday due to Diwali Balipratipada. Earlier on Tuesday, in the special Muhurat trading session, Sensex rose by 62.97 points to close at 84,426.34 points, while Nifty rose by 25.45 points and closed at 25,868.60 points.
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