Today's stock market: In anticipation of the US Federal Reserve's interest rate announcement, the domestic benchmark indices, the Nifty 50 and Sensex, ended the trading session on a high note, mirroring the upward trend of their international counterparts. Market morale has risen due to a possible trade agreement between the US and China.
The Sensex climbed 0.44% to reach 84,997.13, while the Nifty 50 rose 0.45% to 26,053.9. Less about 1% separated the two main indices from their September 2024 peak.Major companies that saw increases of up to 3% during intraday trading, including Reliance Industries, HDFC Bank, NTPC, Adani Ports, Power Grid, HCL Tech, and Tata Steel, contributed to the market's optimism.
The small-cap index increased by 0.4%, while the mid-cap index increased by 0.6%.
Ten of the day's major highlights for the Indian stock market
What caused the market to increase?
Ten of the day's major highlights for the Indian stock market
What caused the market to increase?
Analysts say that when US President Donald Trump hinted at an imminent agreement at the APEC Summit, which boosted confidence among foreign investors, anticipation over a potential US-India trade deal was a major driver, in addition to the US Federal meeting and the US-China trade accord. Bullish optimism was further reinforced by positive global indicators, such as consistent gains in US markets and AI-driven spikes in tech shares globally.
"With the help of encouraging signals from Asian markets and increased understanding of the dynamics of global trade, the domestic market concluded on a high note. Optimism over possible advancements in trade negotiations between the US and India significantly improved sentiment. While metal stockpiles rose due to strong commodity prices and supply restrictions, oil stocks led the climb as crude prices reduced expectations of further OPEC+ output.
Even though a 25 basis point rate decrease is generally expected, investors will closely monitor the Fed's commentary for additional rate cuts, which will determine the direction of the market going forward, according to Vinod Nair, Head of Research at Geojit Investments. The impending Fed decision is still a significant event for global markets.
Even though a 25 basis point rate decrease is generally expected, investors will closely monitor the Fed's commentary for additional rate cuts, which will determine the direction of the market going forward, according to Vinod Nair, Head of Research at Geojit Investments. The impending Fed decision is still a significant event for global markets.
Today's top Nifty 50 index gainers
The Nifty 50 index saw 36 stocks close higher, with the top gainers being NTPC Ltd (up 2.90%), Adani Ports and Special Economic Zone Ltd (up 2.69%), Oil and Natural Gas Corporation Ltd (ONGC) (up 2.61%), and Power Grid Corporation of India Ltd (up 2.43%).
The Nifty 50 index's top losers
As the biggest losers, Dr. Reddy's Laboratories Ltd.'s stock fell 2.40%, Coal India Ltd. fell 2.16%, Bharat Electronics Ltd. (BEL) fell 1.44 percent, and Eternal Ltd. fell 1.18 percent.
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