1. Indian markets closed in positive territory on Thursday, following gains in Asian and European markets. This is on the back of FOMC minutes indicating a likely US rate cut next month.
Sensex gained 147.8 points to close at 81,053, while the NSE Nifty50 rose 41.3 points to end at 24,811.
2. Winners and losers:
On the Nifty, Grasim, Tata Consumer Products, Bharti Airtel and Tata Steel were the top gainers, while Wipro, NTPC, Tata Motors, M&M and Dr. Reddy’s Laboratories closed lower.
3. Sector performance: High-weight financial stocks rose 0.45%, while consumer stocks gained 0.62% and hit an all-time high. Small- and mid-caps focused on the domestic market rose 0.2% and 0.7%, respectively.
4. Actions in the news
Newly listed Awfis Space Solutions closed up 10% after the company announced the launch of two new centres in Bengaluru
Kalyan Jewellers rose 10% as the promoter bought a Rs 1,300 crore stake from Highdell Investment through a block deal.
Paytm shares fell 3% after Zomato announced the acquisition of Paytm’s entertainment business.
5. Expert opinion:
Aditya Gaggar, Director, Progressive Shares, said, “The range of 24,850-25,000 is a bearish gap zone and considering a one-way rally over the last 5 sessions, a pullback can be anticipated where the index will find support at 24,720.”
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