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Sensex, Nifty Snap Two-day Losing Streak
(RTTNews) - Indian shares rose notably on Thursday following two consecutive sessions of declines.
Despite a hawkish update from the Fed, investors remained hopeful that the U.S. central bank will likely initiate rate cuts as early as March this year.
The benchmark S&P BSE Sensex jumped 490.97 points, or 0.69 percent, to 71,847.57, snapping a two-day losing streak as investors looked ahead to the release of corporate earnings results for the October-December quarter.
The broader NSE Nifty index settled 141.25 points, or 0.66 percent, higher at 21,658.60.
IndusInd Bank, ONGC, NTPC, Tata Consumer Products and Bajaj Finance jumped 3-4 percent in the Nifty pack, while Hero MotoCorp, HCL Technologies, LTIMindTree, BPCL and Dr Reddy's Laboratories fell 1-2 percent.
BEML rallied 3.2 percent and Jupiter Wagons soared 5 percent after winning contracts worth Rs 802 crore for procurement of military equipment from the Defense Ministry.
Property developers were on a roll, with Sobha rallying nearly 16 percent after Motilal Oswal Financial Services said the stock is one of its top picks for 2024.
China Trade Data On Tap For Thursday
U.S. Dollar Drops Against Majors
Swiss Market Ends Notably Lower
European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes
Canadian Stocks Surge Higher Again; TSX Scales New Record High
India Holds Key Interest Rates Steady As Trade Tensions Escalate
Bay Street Looks Set To Extend Upmove
