- By Aditya Pratap Singh
- Mon, 26 Aug 2024 04:13 PM (IST)
- Source:JND
Stock market benchmark indices Sensex and Nifty rose by nearly 1 per cent on Monday amid renewed expectations that the US Federal Reserve will soon begin lowering interest rates. The markets were also boosted by foreign capital inflows and purchases in frontline stocks by HDFC Bank and Reliance Industries. On Friday, U.S. Federal Reserve Chairman Jerome Powell stated that it was time to reduce key interest rates from two-decade highs.
The 30-share BSE Sensex climbed 611.90 points, or 0.75 per cent, to 81,698.11. The day began with a rise of 738.06 points, or 0.91 percent, to 81,824.27. The NSE Nifty increased by 187.45 points, or 0.76 per cent, to 25,010.60.
Bajaj Finserv, HCL Technologies, NTPC, Tech Mahindra, Titan, JSW Steel, Mahindra & Mahindra, Tata Steel, Larsen & Toubro, and Tata Consultancy Services were the top gainers among the 30 Sensex firms.
IndusInd Bank, Kotak Mahindra Bank, Maruti, and Hindustan Unilever were among the laggards.
Shanghai and Hong Kong ended in positive territory, while Seoul and Tokyo finished lower in the Asian markets. European markets were mostly undertraded. On Friday, U.S. markets ended considerably higher.
According to exchange data, foreign institutional investors purchased equities worth Rs 1,944.48 crore on Friday. Brent crude, the worldwide benchmark, climbed 1.08 percent to $79.87 a barrel.The benchmark BSE ended 33.02 points or 0.04 percent higher at 81,086.21 on Friday, rising for the fourth consecutive session.
The NSE Nifty climbed 11.65 points or 0.05 percent to close at 24,823.15, registering gains for the seventh consecutive session.
(With PTI's Input)