Sensex, Nifty, Share Prices Live Updates: India’s Equity Benchmarks Trade Higher on Friday
The Indian stock market witnessed a positive trend on Friday, with the BSE Sensex gaining 499 points and the NSE Nifty rising by 143 points at 10.38 a.m. This surge in the equity benchmarks was in line with the gains seen in Asian markets, following a softer-than-expected U.S. inflation print. The news has raised expectations of Federal Reserve easing next year, which has boosted investor sentiment.
ICICI Prudential Asset Management Company also made a strong market debut on Friday, with its shares listing nearly 20% above the IPO price. The stock opened at ₹2,600 on the NSE and ₹2,606.20 on the BSE, before rising to a high of ₹2,663.40. This is a positive sign for the company and reflects the confidence of investors in its potential for growth.
The U.S. consumer prices rose 2.7% year-on-year in November, which was below the forecast of 3.1%. This has led to hopes of lower interest rates, which could attract foreign portfolio investors (FPIs) to emerging markets like India. However, analysts caution that the data may be skewed by the recent U.S. government shutdown. Nevertheless, the possibility of lower interest rates is a positive development for the Indian stock market.
In fact, FPIs bought Indian equities worth ₹596 crore on Thursday, which was their second straight session of net inflows. This comes after the Nifty and Sensex fell 0.9% over the past four sessions due to rupee weakness and trade deal uncertainty. The recent inflow of funds from FPIs is a welcome relief for the Indian stock market and indicates a renewed interest in Indian equities.
According to Vikram Kasat, Head of Advisory at PL Capital, the Nifty closed at 25,815.55, with pivot analysis indicating support at 25,750 and resistance near 25,885. This suggests that the market is currently in a positive trend and has the potential to reach higher levels in the coming days.
The positive sentiment in the Indian stock market is also reflected in the performance of other sectors. The banking sector, in particular, has seen a surge in stock prices, with major banks like ICICI Bank, HDFC Bank, and Axis Bank witnessing an increase in their share prices. This is a positive sign for the overall health of the Indian economy, as the banking sector plays a crucial role in driving economic growth.
The recent developments in the global market, such as the U.S. inflation data and the possibility of lower interest rates, have had a positive impact on the Indian stock market. This has also been supported by the government’s efforts to boost economic growth through various reforms and policies. The recent cut in corporate tax rates is a prime example of the government’s commitment to creating a conducive environment for businesses to thrive.
In conclusion, the Indian stock market is currently on an upward trend, with the Sensex and Nifty showing significant gains. The positive sentiment in the market is driven by both domestic and global factors, and this trend is expected to continue in the coming days. With the government’s focus on economic growth and the potential for lower interest rates, the Indian stock market is poised for further growth and presents a promising opportunity for investors.
