MUMBAI: Strong world cues, primarily as a result of of expectations of a rate cut by the US central financial institution subsequent month, helped Nifty reclaim the 25K mark on Monday after over three weeks. The sensex too was inside 1% of its all-time excessive mark. At shut, Nifty was at 25,011, up 187 factors whereas the sensex was at 81,698, up 611 factors.
According to Siddhartha Khemka of Motilal Oswal Financial Services, Nifty’s surge previous the 25K mark got here on the back of a sign from the US Federal Reserve that curiosity rate cuts are most probably to start out from its Sept assembly.At the present shut, the Nifty is now simply inches away from its life excessive of 25,078, Khemka stated in a word.
“We expect the ongoing momentum to continue towards new highs with broader market participation. This week, the market will focus on India and US GDP data, derivatives monthly expiry, and other global cues,” Khemka stated. Among the sensex shares, HDFC Bank and Reliance Industries added probably the most to its positive aspects.
Domestic establishments had been main consumers with the online shopping for determine at Rs 1,870 crore. Foreign funds too had been internet consumers at Rs 484 crore, BSE knowledge confirmed. The day’s session added about Rs 2.4 lakh crore to buyers’ wealth with BSE’s market capitalisation now at Rs 475.2 lakh crore, near its all-time excessive stage of Rs 475.6 lakh crore, recorded on July 31 this 12 months.
In Asian markets, Shanghai and Hong Kong settled within the constructive territory whereas Seoul and Tokyo ended decrease. European markets had been buying and selling principally decrease. The S& and the Dow opened larger on Monday, with markets targeted on outcomes from AI-darling Nvidia and a key inflation report due later within the week, whereas geopolitical tensions in West Asia made buyers cautious.
According to Siddhartha Khemka of Motilal Oswal Financial Services, Nifty’s surge previous the 25K mark got here on the back of a sign from the US Federal Reserve that curiosity rate cuts are most probably to start out from its Sept assembly.At the present shut, the Nifty is now simply inches away from its life excessive of 25,078, Khemka stated in a word.
“We expect the ongoing momentum to continue towards new highs with broader market participation. This week, the market will focus on India and US GDP data, derivatives monthly expiry, and other global cues,” Khemka stated. Among the sensex shares, HDFC Bank and Reliance Industries added probably the most to its positive aspects.
Domestic establishments had been main consumers with the online shopping for determine at Rs 1,870 crore. Foreign funds too had been internet consumers at Rs 484 crore, BSE knowledge confirmed. The day’s session added about Rs 2.4 lakh crore to buyers’ wealth with BSE’s market capitalisation now at Rs 475.2 lakh crore, near its all-time excessive stage of Rs 475.6 lakh crore, recorded on July 31 this 12 months.
In Asian markets, Shanghai and Hong Kong settled within the constructive territory whereas Seoul and Tokyo ended decrease. European markets had been buying and selling principally decrease. The S& and the Dow opened larger on Monday, with markets targeted on outcomes from AI-darling Nvidia and a key inflation report due later within the week, whereas geopolitical tensions in West Asia made buyers cautious.
