Global rally lifts Nifty, Sensex amid election outcome caution in markets

NSE Nifty rose 0.19 per cent or 41.20 points to 21,998.70, while the BSE Sensex was at 72,441.21 up 0.05 per cent or 40 points.

NSE Nifty rose 0.19 per cent or 41.20 points to 21,998.70, while the BSE Sensex was at 72,441.21 up 0.05 per cent or 40 points.

A total of 3,820 stocks were actively traded, 1,880 advanced, while 1,782 declined and 158 stocks remained unchanged where 97 stocks hit a 52 week high and 39 stocks hit a 52 week low at 1.13 pm on the BSE.

Vikas Jain, Senior Research Analyst at Reliance Securities, said, “The markets opened on a positive note on account of a rally in the global markets. US Fed and Bank of England rate cut hope lifted US, Europe and Asian markets between 1-2 per cent. However, in the past few sessions, the domestic market has not yet participated in the global market because traders took cautious approaches ahead of the Lok Sabha Election outcome.

Gift Nifty is up nearly 100 points or 0.5 per cent but difficult to stay that it will sustain on a full day. Nifty suffered their worst day in about four months (down 1.6 per cent) yesterday as the nervousness over the outcome of the ongoing general elections persisted. Nifty declined past its 100-day moving average and closed below psychological 22000 marks indicating weakness in the market.

Expect intra-day volatility to continue while traders buy on a longer-term prospective. Strong macro data, impressive quarterly results, and rally in the global market will be positive for the longer term prospective. Recent correction of nearly 4 per cent is a good entry point in the market. Auto, banks, metal, PSU stocks are looking attractive after a recent correction.”

Major gainers on the NSE include, BPCL (3.75 per cent), Hero Motocorp (2.94 per cent), NTPC (2.56 per cent), Adani Ports (2.44 per cent), Asian Paints (2.31 per cent). Major losers include, TCS (-1.55 per cent), Infosys (-1.29 per cent), Tech Mahindra (-1.27 per cent), LTIMindtree (-1.07 per cent), Kotak Bank (-0.97 per cent).

BSE Smallcap was up 0.087 per cent and Midcap rose 0.15 per cent.

Like (0)
Previous May 10, 2024 5:52 pm
Next May 10, 2024 5:53 pm

Related posts

  • Tesla and BYD in April: The gap widens

    Tesla and BYD in April: The gap widens Zheneng Motors This year we can indeed see Tesla starting to lag behind in China

    US stock news May 19, 2024
  • Microsoft rose more than 3.8% before the market opened. Q1 results exceeded expectations. AI boosted cloud revenue to accelerate growth.

    Gelonghui April 26 | Microsoft (MSFT.US) U.S. stocks rose more than 3.8% before the market opened, at $414.31

    US stock news April 26, 2024
  • Released the first \”Low Carbon Medical Action Guidelines\”, Yingkang Life Insurance further promotes low carbon operations

    Recently, the \”Seventh Hospital Logistics Development Conference and Hospital Logistics Equipment, Technology and Service Exhibition\”, guided by the Hospital Construction and Equipment Branch of the China Medical Equipment Association and sponsored by Zhuyi Tai, was officially held. The conference aims to improve the sophistication of the overall hospital operations. and informatization to help build smart hospitals, safe hospitals, and green hospitals. At the scene, Yingkang Life, a listed company under Haier Group\’s big health ecological brand Yingkang Life, released the \”Low Carbon Medical Action Guidelines\”. According to industry experts, this is the first action guideline for the mainland medical industry to integrate low-carbon and medical care. Hospitals are an important area of ​​medical carbon footprint and an important scenario for achieving medical carbon peak and carbon neutrality. According to \”HEALTH CARE`S CLIMATE FOOTPRINT\” released by Harmless Medical, the carbon footprint of the medical sector in various countries around the world accounts for an average proportion of national carbon emissions of 4.4%. The top ten medical system emitters account for 75% of the total global health care emissions. China ranks second…

    US stock news April 25, 2024
  • Citigroup will raise its year-end target for the S&P 500 Index to 5,600 points, optimistic about the strength of technology giants

    Citi strategists raised their year-end target for the S&P 500 to 5,600 from the previous 5,100, becoming the third Wall Street firm since Friday to raise their forecasts for the benchmark index, following Goldman Sachs and Evercore ISI.

    US stock news June 18, 2024
  • Yili Clean Energy\’s performance forecast \”changed\”, with a difference of hundreds of millions of yuan between the previous and later disclosures! The company and its executives were issued warning letters

    Log in to the Sina Finance APP and search [Xinpi] to view more evaluation grades. For stock trading, look at Jin Qilin analyst research reports, which are authoritative, professional, timely and comprehensive to help you tap potential theme opportunities! On April 25, the Inner Mongolia Securities Regulatory Bureau disclosed an announcement on the decision to issue warning letters to Yili Clean Energy Co., Ltd. and relevant responsible personnel. According to the announcement, Yili Clean Energy Co., Ltd. (hereinafter referred to as Yili Clean Energy), Chairman Wang Ruifeng, General Manager Hou Jinghui, and Financial Director Zhang Yanmei were subject to administrative supervision measures such as issuing warning letters due to inaccurate performance disclosures, and were recorded in securities and futures records. Market Integrity Profile Database. After investigation, when Yili Clean Energy disclosed its 2023 performance forecast on January 31, the estimated net profit was between 36.45 million yuan and 52.86 million yuan, and after deducting non-net profits, it was -112.42 million yuan to -96.01 million yuan. On April 23, the company disclosed a correction to its performance forecast because the company…

    US stock news April 25, 2024
  • BHP Billiton bids £31.1 billion to acquire Anglo American

    Australian mining giant BHP Group confirmed on Thursday that it had made an all-stock takeover proposal to Anglo American PLC, valuing the smaller rival at 31.1 billion pounds (about 38.8 billion U.S. dollars). Anglo American investors will receive 0.7097 BHP shares for each share they hold, as well as shares in Anglo American Platinum and Kumba Iron Ore. As of Wednesday\’s close, Anglo American\’s market value was 27 billion pounds. BHP Billiton said in a statement: \”This merger will combine the strengths of BHP Billiton and Anglo American in an optimal structure. Anglo American will bring its assets and long-term growth potential. BHP will bring higher-margin cash-generating assets and growth projects, as well as greater free cash flow and a stronger balance sheet. ” Anglo American said late on Wednesday that it had received an unsolicited all-stock merger proposal from BHP Billiton and that the board of directors was conducting an evaluation. BHP\’s proposal comes with a condition that Anglo American divest its platinum and iron ore operations in South Africa first, the company added. If the acquisition goes ahead,…

    US stock news April 25, 2024