New Delhi, June 13 (IANS) Indian equity benchmarks closed in the green on Thursday following inflation decreases in India and the US. At closing, Sensex was at 76,810, up by 204 points or 0.27 per cent, and Nifty was up by 75 points or 0.33 per cent, at 23,398.
Buying has been seen in Nifty since the last few trading sessions. In early trade, the NSE benchmark hit an all-time high of 23,481, after breaching an earlier high of 23,441.
There has been a bullish trend in the Indian stock market for the past year. Nifty surged 5.88 per cent in the previous month, 11.84 per cent in the last six months, 7.65 per cent since the beginning of this year and nearly 25 per cent in the previous year.
The reasons behind the rally in Nifty are high GDP growth, stable government in the country, and increased corporate earnings.
There is a bullish trend in small and medium stocks also. The Nifty Midcap 100 index closed 426 points or 0.79 per cent higher at 54,652 points and the Nifty Smallcap 100 index closed 119 points or 0.67 per cent higher at 17,908 points.
Among sectoral indices, Auto, IT, fin service, pharma, realty, infra, and PSE were major gainers and FMCG, realty, and infra were major laggards.
M&M, Titan, L&T, IndusInd Bank, Tech Mahindra, TCS, UltraTech Cement, and Wipro were the top gainers. HUL, ICICI Bank, Power Grid, and Axis Bank were the top losers.
“The domestic equity benchmark traded with a modest gain, with domestic CPI data indicating that inflation is on a slow track of decline. A similar trend is reported in the US CPI, which brought down the market expectation from two rate cuts in CY24 to one, which is having a mixed effect on the global markets,” market experts said.
–IANS
avs/kvd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
