Sensex, Nifty Rally On Dovish Fed; IT Stocks Top Gainers

RTTNews | 672 days ago
Sensex, Nifty Rally On Dovish Fed; IT Stocks Top Gainers

(RTTNews) - Indian shares opened on a strong note Thursday and the rupee rebounded sharply after the U.S. Federal Reserve's "dot plot" revealed expectations of a 75-basis point decrease in rates by 2024.

The benchmark S&P BSE Sensex was up 749 points, or 1.1 percent, in early trade, with banks and tech stocks leading the surge.

The broader NSE Nifty index jumped 205 points, or 1 percent, to 21,132.

IT stocks were seeing broad-based gains after the 10-year U.S. Treasury yield dropped to the lowest level since August on the Fed's dovish stance.

Infosys, Wipro, LTIMindTree, HCL Technologies and Tech Mahindra surged 3-4 percent.

Top banks SBI, HDFC Bank, ICICI Bank and Axis Bank all rose around 1 percent.

Shares of Indian Railway Catering & Tourism Corporation rose 1.4 percent after the company said it was eyeing a major expansion in non-railway catering business.

read more
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares look set to open on a positive note Thursday, tracking mostly firm cues from global markets on renewed hopes of a Federal Reserve rate cut.
RTTNews | 25 minutes ago
Thai Stock Market May Challenge 1,300-Point Mark

Thai Stock Market May Challenge 1,300-Point Mark

The Thai stock market on Wednesday snapped the two-day slide in which it had tumbled almost 50 points or 3.9 percent. The Stock Exchange of Thailand now sits just above the 1,285-point plateau and it's expected to see a steady start again on Thursday.
RTTNews | 52 minutes ago
Indonesia Stock Market May Find Traction On Thursday

Indonesia Stock Market May Find Traction On Thursday

The Indonesia stock market has finished lower in three straight sessions, stumbling more than 200 points or 2.6 percent along the way. The Jakarta Composite Index now rests just above the 8,050-point plateau although investors may go bargain hunting on Thursday.
RTTNews | 1h 22min ago
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is notably higher on Thursday, extending the strong gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 48,000 mark, with gains in financial, automaker and technology stocks.
RTTNews | 1h 35min ago
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market on Wednesday halted the seven-day losing streak in which it had plummeted more than 1,850 points or 7 percent. The Hang Seng Index now rests just above the 25,900-point plateau and it may extend those gains on Thursday.
RTTNews | 1h 37min ago
China Shares May See Additional Support On Thursday

China Shares May See Additional Support On Thursday

The China stock market on Wednesday ended the three-day losing streak in which it had stumbled almost 70 points or 1.8 percent. The Shanghai Composite Index now sits above the 3,910-point plateau and it may tick higher again on Thursday.
RTTNews | 1h 52min ago
Australian Market Modestly Higher

Australian Market Modestly Higher

The Australian market is trading modestly higher on Thursday, adding to the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 9,000 level, with gains in gold miners and financial stocks partially offset by weakness in energy and technology stocks.
RTTNews | 2h 12min ago