New Delhi: India’s domestic stock market indices Sensex and Nifty bounced back in opening trade on Monday, October 01, 2024 after mayhem on the Dalal Street in the preceding trading session. The 30 constituent index traded in green at 84,257.17 points while, the broader index opened at at 25,788.45 levels. . Among the Sensex pack, stocks like Tech Manhindra, L&T, Infosys, SBI, M&M, Axis Bank, RIL, ICICI Bank, Power Grid, etc all traded in green. Mostly IT and auto stocks were buoyant.
Among the National Stock Exchange’s (NSE) thematic indices, realty, auto, banks, IT, etc all traded in green.
Asian Stock Markets Bounce Back On Tuesday
Japan’s stock market gauges bounce backed from the preceding trading session. Other Asian countries’ benchmark indices like that of Shanghai and even Hong Kong continued to trade in positive territory on Tuesday as well. The former’s Central Bank ‘People’s Bank of China’ had earlier vowed to cut key policy interest rates last week. Ever since the announcements were made, China and Hong Kong’s benchmark indices have repeatedly shown buoyancy.
Last week, 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 had said that 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.
While, global oil benchmark Brent Crude, was down 0.29% and traded at $71.77 per barrel. On Monday, the US benchmark indices had closed flat.
Sensex, Nifty Plunged In Excess Of 1% On Monday
India’s benchmark stock market indices Sensex and Nifty had caused bloodbath on the Dalal Street on Monday. The 30 constituent index HAD plunged in excess of 1,200 points while, the 50 issues index dragged in excess of 1%. The former closed 1.49% lower at 84,299.78 points while the latter plunged 1.40% to settle at 25,810.85 levels. Foreign Institutional Investors (FIIs) had offloaded equities worth Rs 1,209.10 crore on Friday, September 27, 2024.