Domestic stock markets rose by more than 1 per cent on Thursday. Investors strengthened the morale after the US Federal Reserve indicated a two -rate deduction this year. The Sensex climbed 899 points or 1.2 per cent to close at 76,348 while the Nifty 50 index climbed 283 points or 1.2 per cent to close at 23,191.
Both indices continued to rise for the fourth consecutive day, which is the longest series of boom since the end of January. The total market capitalization increased by Rs 3.6 lakh crore to Rs 408.6 lakh crore. The weekly growth in this was Rs 17.4 lakh crore. Recent lower levels have increased by more than 5 percent in major indices. They are still trading below 12 percent of their record high levels recorded six months ago.
The federal reserve’s unchanged interest rates, but reducing economic growth forecasts and increasing inflation estimates, reduced concerns about the US central bank’s ability to cut interest rates amidst the pressures of inflation.
Federal Reserve Chairman Jerome Powell has indicated that inflation effects of President Donald Trump’s trade policy may be temporary. But he clarified that temporary increase in inflation due to tariffs is a basic landscape and said that the Fed officials ‘really know’ whether this effect would be temporary or not.
However, some market analysts are apprehensive about the temporary nature of this effect. The 10-year-old Yield on American bonds fell to 4.18, which reduced the attraction of the bond and benefited the emerging markets like India.
Vinod Nair, the research head of Geojit Financial Services, said, “The steady fall in the US dollar index has given relief from FPI selling while the purchase of domestic institutions remains strong. This has led to the promotion of fresh boom.
The market perception was strong on Thursday. The number of climbing shares was 2,395 and the number of falling was 1,630. All the Sensex shares except just two recorded a boom. Bharti Airtel, which climbed 4.2 per cent, was the most powerful share of the Sensex and contributed the most to the index. Thereafter, HDFC Bank recorded a rise of 1.3 percent, Reliance Industries registered a rise of 1.7 percent.
Senior Vice President (Research) Ajit Mishra at Railor’s Broking said, “The next target is 23,400 with the Nifty crossing resistance of 23,100. Rapid trading opportunities are available in various sectors.
First Published – March 20, 2025 | 10:44 pm IST
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