Sensex climbs 304 points, Nifty closes above 24,600 as steady US inflation fuels global rally
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Deccan Herald
29 minutes ago
- Deccan Herald
Stock markets end flat after volatile session as investors await outcome of US-Russia talks
Extending gains to the second day, the 30-share BSE Sensex climbed 57.75 points or 0.07 per cent to settle at 80,597.66. During the day, it rallied 211.27 points or 0.26 per cent to 80,751.18.
New Indian Express
33 minutes ago
- New Indian Express
Sensex, Nifty end flat in rangebound trade ahead of long weekend
CHENNAI: Indian equity benchmarks closed almost unchanged on Thursday after a largely rangebound session, as traders avoided making big bets ahead of the extended Independence Day weekend. The markets will remain shut on Friday, August 15. The NSE Nifty 50 inched up 11.95 points, or 0.01 per cent, to settle at 24,631.30. The BSE Sensex moved in a narrow 261-point band, touching an intraday high of 80,751.18 and a low of 80,489.86, before ending 57.75 points, or 0.07 per cent, higher at 80,597.66. Weekly Nifty options expiry added bouts of intraday volatility. On the BSE, Eternal, Infosys and Asian Paints were the top gainers, while Tata Steel, Tech Mahindra and Adani Ports were among the biggest drags. On the NSE, Wipro, Eternal and Infosys led the gainers' list, whereas Tata Steel, Adani Ports and Hero MotoCorp ended as top losers. Broader markets underperformed, with the Nifty Midcap 100 falling 0.31 per cent and the Nifty SmallCap index down 0.38 per cent. Sectoral performance was mixed. Nifty Consumer Durables gained the most, up 0.75 per cent, followed by Nifty IT with a 0.4 per cent rise. Metals, oil & gas and realty stocks weighed on the indices, falling 1.39 per cent, 0.91 per cent and 0.76 per cent respectively. Analysts said the muted moves reflected cautious positioning ahead of the holiday, with traders booking profits in select sectors after recent gains, while IT and consumer-oriented stocks attracted some buying interest.
Reuters
an hour ago
- Reuters
IT, pharma lead Indian shares to weekly gains ahead of Russia-US talks
Aug 14 (Reuters) - Indian shares ended flat on Thursday ahead of U.S.–Russia talks on Ukraine but logged weekly gains as IT and pharma stocks rose after a U.S.–China tariff truce extension and rising hopes of a Fed rate cut. The Nifty 50 (.NSEI), opens new tab rose 0.05% to 24,631.3 points, while the BSE Sensex (.BSESN), opens new tab gained 0.07% to 80,597.66. The benchmarks added about 1% for the week, snapping six straight weeks of losses-their longest since April 2020. Indian markets will be closed on Friday for Independence Day. Fourteen of the 16 major sectors advanced this week. The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab gained 0.7% and 0.9%, respectively. Pharma (.NIPHARM), opens new tab and IT companies (.NIFTYIT), opens new tab, which earn a significant share of their revenue from the U.S., rose 3.5% and 1.3% on optimism from the extension of the U.S.–China tariff truce and softer U.S. inflation. Investors, however, remained cautious ahead of the high-stakes Russia–U.S. presidential summit on August 15 in Alaska, which could impact India-U.S. trade ties. U.S. Treasury Secretary Scott Bessent warned that sanctions or secondary tariffs, including on Indian goods, could increase if talks falter. The U.S. has slapped an additional 25% tariff on Indian imports over its Russian oil purchases, taking total duties to 50%. "Domestic macro strength and steady flows offer support, but U.S.-India trade uncertainties could squeeze export-sector margins, dent quarterly earnings, and spur volatility and stock-level divergence," said Saurav Ghosh, co-founder of online investment platform provider Jiraaf. However, any breakthrough in the Russia–U.S. summit could be a game-changer, potentially leading to scrapping of secondary tariffs on Indian goods, two analysts said. Among key movers, Apollo Hospitals ( opens new tab jumped 10.4% this week, its best in nearly four years, after strong quarterly results. On the day, Infosys ( opens new tab gained 1.5% following a joint venture with Australian telecom major Telstra.
