Share Market: Global markets rise, Sensex rises more than 500 points, Axis Bank shares rise 2%
Stock markets accelerated due to the announcement on the policy rate of the US Federal Reserve Bank.
Mumbai:
The domestic stock market opened with a jump on Thursday amid strong signals from global markets. The US Federal Reserve kept the interest rate stable at a record low. The US Federal Reserve indicated that it may begin easing its extraordinary support measures for the economy by the end of this year. After this, there was a boom in the markets around the world. In today’s opening, the Sensex climbed more than 450 points.
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The Sensex was at the level of 59,490.68 at 10.32 in the morning. It had gained 563.35 points or 0.96%. At the same time, Nifty was at the level of 17,711.80. It had gained 165.15 points or 0.94%.
During the opening, the 30-share Sensex was up 487.42 points or 0.83 per cent at 59,414.75, while the NSE Nifty gained 142.50 points or 0.81 per cent to reach 17,689.15. The biggest gain of two percent in the Sensex was in Axis Bank. Apart from this, Tata Steel, Bajaj Finserv, SBI, Reliance Industries, HDFC Bank and Kotak Bank were also among the top gainers. On the other hand Titan and Tech Mahindra saw a decline.
In the previous session, the Sensex was down 77.94 points or 0.13 per cent at 58,927.33 and the Nifty was down 15.35 points, or 0.09 per cent, at 17,546.65. According to provisional data of the stock market, foreign institutional investors (FIIs) sold shares worth Rs 1,943.26 crore on a gross basis on Wednesday.
Meanwhile, international oil benchmark Brent crude was up 0.25 per cent at $76.38 per barrel.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)