New Delhi: India’s benchmark stock market indices Sensex and Nifty had a positive start to the trading session of Friday, September 27, 2024. The former opened in green at 85,893.84 points while the latter at 26,248.25 levels. Among the Sensex pack, stocks like Sun Pharma, Infosys, HCL Tech, Tata Steel, TCS, IndusInd Bank, NTPC, Adani Ports were some of the stocks which traded in green. Mostly IT, metal and consumer durable stocks were buoyant.
Among the National Stock Exchange’s (NSE) thematic indices, metal, consumer durables, IT ,etc all traded in green in the early morning trade.
In the broader market, Nifty Small Cap 100 traded 0.27% higher , while, BSE Small Cap was up 0.33% in the early morning trade. While, global oil benchmark Brent Crude was down 0.19% and traded at $71.41 per barrel.
Asian Markets Trade Higher
Other Asian countries’ benchmark stock gauges like that of Shanghai, Hong Kong and even Tokyo traded continued to trade in positive territory on Friday as well.
Earlier, Chinese Central Bank, the People’s Bank of China had vowed to cut key policy interest rates to give much needed stimulus to its falling economy. Central bank governor Pan Gongsheng said the central bank would lower the Reserve Requirement Ratio (RRR) by 50 basis points and seven days reverse repurchase rate by 20 bps from 1.50% to 1.30%. These moves were expected to infuse $142 billion worth of liquidity in their economy. According to stock market analysts, China’s latest measures have fuelled Asian stock markets. Ever since Gongsheng’s statements were out, China and its Asian peers’ market gauges have continued to show buoyancy. On Thursday, the US benchmark indices had also closed in positive territory.
Sensex, Nifty At Lifetime Peaks
India’s benchmark stock market indices Sensex and Nifty had settled at all time levels on Thursday. Both the market gauges had made fresh respective highs. The former closed 666 points higher at 85,836.12 points while the latter 0.81% higher at 26,216.05 levels. In the intraday, the 30 constituent index scaled to lifetime peak of - 85,930.43 points. While, the 50 issues index made its respective record high of 26,250.90 points. Mostly auto and PSU Bank stocks were the biggest gainers.