Indian shares rose on Thursday despite weak cues from Asia and Europe.
While dovish Fed bets and declining oil prices offered some support, markets ended off their day’s highs as investors looked ahead to a raft of U.S. economic data and high-profile ECB and Fed speeches for further clues to the economic growth and rate outlook.
A rebound in the dollar index and U.S. Treasury yields also triggered some profit taking at higher levels.
The benchmark S&P BSE ended the session up 306.55 points, or 0.47 percent, at 65,982.48 after hitting a high of 66,358.37 earlier in the day.
The broader NSE Nifty index hit an intraday high of 19,875.25 before giving up some gains to settle 89.75 points, or 0.46 percent, higher at 19,765.20 – extending gains for a second straight session.
Information technology stocks topped the gainers list, with Infosys, TCS, HCL Technologies and Tech Mahindra rallying 2-3 percent.
Hero MotoCorp jumped 3.3 percent after reporting its highest-ever festive sales.
On the losing side, Tata Consumer Products, Adani Enterprises, Coal India and Axis Bank all fell around 1 percent.
Market Analysis
Sensex, Nifty Extend Gains For Second Day; IT Stocks Surge
2023-11-16 10:33:10
