Sensex increases 100 points on gains in L&T, HDFC Bank; Nifty above 19,700

Indian equity indices opened higher for the 2nd straight session on Thursday amidst combined international hints, led by L&T, HDFC Bank and Reliance Industries. The S&P BSE Sensex was trading 145 points or 0.22% greater at 66,264. Nifty50 was trading at 19,755, up 39 points or 0.20% at around 9.16 a.m. From the Sensex pack, L&T, Bharti Airtel, Axis Bank, and Tata Steel opened in the green, while Tech Mahindra, Asian Paints, Bajaj Finance, and IndusInd Bank opened in the red. Amongst specific stocks, Dixon Technologies increased 2% after its arm Padget Electronics participated in an arrangement with Xiaomi for making smart devices. Sector-wise, Nifty Metal increased 0.81%, and Nifty Realty rose 0.43%. Whereas, FMCG, IT, and media sectors opened lower. In the more comprehensive market, Nifty Midcap100 acquired 0.09%, and Smallcap100 advanced 0.62%. Professionals Take “Even though the marketplace is revealing durability, the undercurrent is weak. The dollar index at 106.59, the U.S. 10-year bond yield at 4.62% and Brent crude above $97 are strong headwinds that can pull the marketplace down,” stated V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Financiers need to beware at this phase. Revenue reservation in the mid-and small-cap stocks which have actually soared on hope and aggressive purchasing would be a great method, Vijayakumar recommended. Deepak Jasani, Head of Retail Research at HDFC securities, stated, “Nifty might deal with resistance in the 19798-19849 band while 19637 might provide assistance in the near term.” International Markets Oil costs scaled 1 year highs on Thursday, while world stocks considered their longest losing streak in 2 years as concerns deepened about constantly high rates of interest, sending out financiers to shelter in the security of a rising U.S. dollar. MSCI’s index of Asia
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