Market Rally Sensex Surges 1%, Global Optimism on Soft US Inflation
Indian markets opened strong, buoyed by a global uptrend sparked by subdued U.S. inflation, signaling a potential pause in interest rate hikes. At 10 a.m., the BSE Sensex surged 619.22 points to 65,553.09, while the NSE Nifty climbed 190.80 points to 19,634.35. Out of the 3,160 stocks traded on BSE, 2,178 advanced, 857 declined, and 125 remained unchanged. About 150 stocks hit the upper circuit, while 47 hit the lower circuit. The number of stocks at a 52-week high is 212, while 11 of them hit a 52-week low. Wall Street’s Nasdaq led the charge, echoing its strongest performance in six months. This followed stagnant U.S. CPI data for October, triggering hopes of reduced Federal Reserve rate hikes, further enhancing global market optimism.
The rupee appreciated 32 paise to 83.01 against the US dollar in morning trade on Wednesday as the American currency retreated from its elevated levels after US inflation came lower than expected.
Forex traders said the rupee opened on a bullish note as the American currency weakened after US Inflation eased to its lowest level since September 2021.
November 15, 2023, 10:24
MSCI Global Standard Index will add 9 Indian stocks, including IndusInd Bank, Tata Motors DVR, Suzlon Energy, and One 97 Communications.
Tata Communications, APL Apollo Tubes, Macrotech Developers, Persistent Systems, and Polycab India have also been added. No stocks have been taken out from the India index.
November 15, 2023, 10:19
Computer Age Management Services Limited, a mutual fund transfer agency, saw a 5 per cent jump today at ₹2821. The closing price of the stock yesterday was ₹2685. The company also released its Q2 results recently, where it reported a 17 per cent surge in net profit to ₹84.51 crore.
November 15, 2023, 10:11
India’s unemployment rate is at a record low, and the country’s labour market is undergoing a structural transformation, a report said on Tuesday.
In the news report, economists at the country’s largest lender SBI also pitched for a “reinterpretation of old-fashioned rhetoric” while looking at a subject like employment.
November 15, 2023, 10:11
November 15, 2023, 10:00
PTC Industries stock surges by 5% on the NSE, trading at ₹5,178.60, after the company signed a contract with Safran to provide casting parts for the LEAP engine powering a single-aisle jet.
November 15, 2023, 09:57
Among the 3,160 stocks traded on BSE, 2,178 moved upwards, 857 saw a decline, and 125 remained unchanged. Approximately 150 stocks reached their upper circuit, while 47 dipped to the lower circuit. A total of 212 stocks touched their 52-week high, whereas only 11 reached their 52-week low.
November 15, 2023, 09:51
RVNL stock rises by 2.45% on the NSE, trading at ₹160.75 after the receipt of LOA for “Construction of 4 Nos. Tunnels (total Length 1.6km) with ballast-less track, Earthwork in formation, Construction of Important Bridges (2nos), Major Bridges (1no), Minor Bridges (25nos), Supply of Stone ballast, Track linking,
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