Sensex climbs 362 points, Nifty closes above 25,000 mark on gains in IT, telecom shares
The Hindu
Sensex and Nifty rise above 25,000 level on Tuesday with gains in IT, telecom, and banking shares.
Benchmark Sensex climbed nearly 362 points while Nifty ended above 25,000 level higher on Tuesday (September 10, 2024), marking their second straight day of gains following a rebound in the U.S. markets and fresh foreign fund inflows.
The 30-share BSE Sensex climbed 361.75 points or 0.44% to settle at 81,921.29 driven by gains in IT, telecom and select banking shares. During the day, it jumped 637.01 points or 0.78% to 82,196.55.
The NSE Nifty surged 104.70 points or 0.42% to 25,041.10.
Among the 30 Sensex firms, NTPC, HCL Technologies, Bharti Airtel, Tech Mahindra, Power Grid, Axis Bank, Tata Consultancy Services and Adani Ports were the biggest gainers.
Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Mahindra & Mahindra, Tata Motors and State Bank of India were among the laggards.
"The domestic market showcased a gradual rebound driven by the shift in focus towards upcoming U.S. inflation and potential FED policy stance. The U.S. political risk and recession fears may set near-term cautious sentiments in the global market.
"On the domestic front, a strong monsoon, and an expectation of an uptick in demand during festival season will drive investor sentiment," Vinod Nair, Head of Research, Geojit Financial Services, said.
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