Mumbai: In early trading on Thursday, key stock market indices rallied due to consistent foreign investments and increased purchasing of top stocks like Reliance Industries and HDFC Bank. In early trading, the BSE Sensex, with 30 shares, rose by 264.85 points to reach 82,617.49. The NSE Nifty increased by 76.75 points and reached 25,275.45.
UltraTech Cement, Tata Steel, ITC, Titan, ICICI Bank, JSW Steel, Reliance Industries and HDFC Bank were the top performers among the 30 Sensex companies. Nestle, Bharti Airtel, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were among the companies that performed poorly. Seoul and Shanghai were up in Asian markets, while Tokyo and Hong Kong were down.
On Wednesday, the markets in the US closed with a combination of positive and negative results. According to data from the exchange, Foreign Institutional Investors (FIIs) purchased equities amounting to Rs 975.46 crore on Wednesday. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, stated that the recent shift of FIIs to become net buyers of domestic equities has been providing significant support.
A survey conducted on Wednesday reported that the growth of India's services sector reached its highest level in five months in August due to a stronger increase in new work orders. Additionally, payroll numbers increased significantly as companies maintained a positive outlook on the economy.
On Wednesday, the BSE index fell by 202.80 points, representing a 0.25 pc decrease, closing at 82,352.64. Breaking its two-week winning streak, the Nifty fell by 81.15 points or 0.32 pc to 25,198.70. In the last 14 consecutive days, the Nifty experienced a substantial increase of almost 1,141 points, equivalent to 4.59 percent. At the same time, the international standard for oil prices, Brent crude, was trading at USD 72.84 per barrel, marking a 0.19 pc increase.
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