Indian Equities Clock Significant Gains on Thursday, Lifted by IT, Metal Stocks
Indian indices rebounded on Thursday, led by IT and metal stocks.
Both BSE Sensex and NSE Nifty gained significantly amid expectations of an increase in foreign inflows into India. The US inflation data strengthened hopes for a rate cut next week.
At close, the Sensex soared 1,439.55 points, or 1.8%, to 82,962.71, while the Nifty 50 jumped 470.45 points, or 1.9%, to 25,388.90.
Hindalco Industries (NSE:HINDALCO, BOM:500440) topped the gainers on Thursday, with shares climbing 4%, followed by Bharti Airtel (NSE:BHARTIARTL, BOM:532454) and NTPC (NSE:NTPC, BOM:532555).
Conversely, Granules India (NSE:GRANULES, BOM:532482), Prism Johnson (NSE:PRSMJOHNSN, BOM:500338), and Honasa Consumer (NSE:HONASA, BOM:544014) were the top laggards.
In corporate news, telecom services provider Bharti Airtel (NSE:BHARTIARTL, BOM:532454) has expanded its Home WiâFi service across 22 districts each in the union territories of Jammu and Kashmir and Leh-Ladakh in India, according to a Thursday filing with the stock exchanges.
Meanwhile, JSW Steel (NSE:JSWSTEEL, BOM:500228) recorded a 1% rise in its crude steel production in August to 2.316 million tons from 2.286 million tons a year ago.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.