equity bench- mark indices – sensex and Nifty – rallied for the third session on the trot, helped by a rally in global markets after lower than expected consumer inflation in the US ignited hopes of more rare cuts by the Federal reserve .
The 30 share BSE index climbed 319 points to revisit 77,000 level at 77,043.During the day , it jumped 595 points to 77,320
on the similar lines , the NSE Nifty rallied 99 points to 23,312
“ Benchmark indices continued to trade in the positive,albeit off highs, driven by positive investor sentiment following mild US inflation data,which raised hopes for a potential rate cut by a federal Reserve.
“Additionally, favorable development in the Israel-Hamas ceasefire and a reduce trade deficit further boosted the markets upward movement. However,weak economic growth data from the UK department some of this optimism,“Vinod Nair, head of research,Geojit Financial services,said.
From the 30 share blue chip pack, Adani ports, state Bank of India,Bajaj Finance,Bharti Airtel ,Tata motors, Industries and Axis Bank were the biggest gainers.
In contrast ,HCL Tech, Nestle,Infosys,ITC and Tata consultancy services were among the laggards.
In Asian markets, Seoul,Tokyo,Sanghai and Hong Kong settle in the positive territory. Equity markets in the Europe were quoting the higher. US markets rallied on Wednesday.Foreign Institutional Investor (FIIs) of floaded equities worth Rs 4,533 crore on Wednesday, according to exchange data.
Global oil benchmark brent crude dipped 0.2% to $81.9 a barrel. In the previous sessions, the BSE benchmark rose 224 points to settle at 76,724 on Wednesday . The Nifty advance 37 points to 23,213.