Stocks Today: Is this a good day for investors; have a look
Key Takeaways:
- The domestic equity benchmarks increased early on Thursday as a result of positive developments in the US markets.
- In other Asian markets, Seoul and Tokyo equity markets were trading higher while Shanghai and Hong Kong equity markets were trading lower.
In early trade on Thursday, the domestic equity benchmarks rose in response to encouraging developments in the US markets.
The 30-share BSE Sensex increased 139.34 points in the first round of trading to 60,244.84. The NSE Nifty, a wider index, increased by 39.35 points to 17,935.05.
HCL Technologies, Titan, UltraTech Cement, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finserv, HDFC, and Maruti were the top gainers from the Sensex pack.
Among the laggards were Asian Paints, Axis Bank, Tata Steel, and ICICI Bank.
Later, though, both benchmarks were quoted flat, paring early gains.
While the Nifty traded 9 points lower at 17,879.85, the 30-share BSE benchmark was down 23.4 points at 60,082.10.
In other parts of Asia, Shanghai and Hong Kong equity markets were trading lower, while Seoul and Tokyo equity markets were trading higher.
On Wednesday, markets in the US finished in the green.
V. K. Vijayakumar, chief investment strategist at Geojit Financial Services, predicted that the US inflation data released tonight “will move the market.”
The 30-share BSE benchmark decreased 9.98 points or 0.02 per cent on Wednesday to close at 60,105.50. The Nifty ended at 17,895.70 after losing 18.45 points, or 0.10 per cent.
“A strong US market close the previous night would boost investors’ confidence, so the market will likely pick up steam in the early Thursday trade. Investors will be watching today’s US inflation data closely.
Today, the IT industry leader Infosys will release its Q3 financial results, and investors will be closely monitoring the guidance, “according to Prashanth Tapse, research analyst and senior vice president of research at Mehta Equities Ltd.
Brent crude, the international standard for crude oil, increased marginally by 0.01 per cent to USD 82.71 per barrel.
