Mumbai: The domestic stock markets in India closed in the green after trading higher during the trading hours on Thursday. The benchmark indices Nifty and Sensex were influenced by the trends set by Asian markets after minutes from the recent Federal Reserve policy meeting which boosted investors’ expectations for policy rate cuts in the US. At the close of the trading session, the BSE Sensex ended at 81,611.41, higher by 144 points, and Nifty closed at 24,998.45, up by 16 points.
On the National Stock Exchange (NSE), the top gainers were Kotak Mahindra Bank, HDFC Bank, Bharat Electronics, Maruti Suzuki, and Power Grid Corp. On the other hand, the top losers included Cipla, Trent, Tech Mahindra, Sun Pharma, and Hero MotoCorp. The sectoral front saw the IT, pharma, and realty index closing in the red, while bank, power, and metals ended in the green territory.
Today, the Indian business industry is mourning the loss of the legendary tycoon, Sir Ratan Tata, and the market paid tribute to Nifty TATA 25 CAP, which traded at an all-time high of 18,227.35 range since its listing. Several TATA sector stocks experienced sharp moves, with gains up to 10%, although prices cooled off in the second half. VLA Ambala, Research Analyst, and Co-Founder of Stock Market Today recommended taking a neutral stance for a few weeks until prices stabilize.
After analyzing the market, VLA Ambala stated, “High inflation and slow GDP growth continue to challenge the economy. Although the government tries to address these issues through measures such as keeping interest rates low.” Market experts suggest that the market remains volatile, and level-based trading should be the ideal strategy for traders. The positive sentiment is also driven by the RBI’s shift to a neutral stance, as signaled on Wednesday.
Investors will be closely monitoring upcoming developments, both domestically and globally, as markets react to geopolitical events. With the volatile nature of the market, it is essential for investors to stay informed and make strategic decisions to navigate the fluctuations. The market continues to be influenced by a variety of factors, including global economic conditions, government policies, and corporate earnings reports. By staying abreast of these developments and adapting trading strategies as needed, investors can position themselves for success in the ever-changing market landscape.
