At 09:30 IST, the barometer index, the S&P BSE Sensex, rose 182.18 points or 0.23% to 81,739.58. The Nifty 50 index added 58.15 points or 0.23% to 24,994.55.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 0.93% and the S&P BSE Small-Cap index gained 1.33%.
The market breadth was strong. On the BSE, 2,394 shares rose and 565 shares fell. A total of 104 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,176.55 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,757.02 crore in the Indian equity market on 9 September 2024, provisional data showed.
Stocks in Spotlight:
Infosys added 0.64%. The company said that the Securities and Exchange board of India (SEBI) on Monday lofted restrictions placed on employees of the company and connected entities and dismissed charges of insider trading against them.
Dixon Technology (India) advanced 1.68% after the companys subsidiary, Padget Electronics has signed MoU with HP India sales to manufacturing notebooks, desktops and all-in one PCs.
GMR Airports Infrastructure gained 1.76% after the company has signed a share purchase agreement with Fraport AG Frankfurt Airport services worldwide to acquire 10% equity stake in Delhi International Airport for $126 million.
Numbers to Track:
The yield on India’s 10-year benchmark federal paper jumped 1.68% to 6.969 as compared with previous close 6.968.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.9650, compared with its close of 83.9550 during the previous trading session.
MCX Gold futures for 4 October 2024 settlement shed 0.02% to Rs 71,613.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, was up 0.09% to 101.64.
The United States 10-year bond yield added 0.25% to 3.707.
In the commodities market, Brent crude for November 2024 settlement fell 7 cents or 0.10% to $71.77 a barrel.
Global Markets:
Most Asian stock markets climbed on Tuesday, mirroring a previous night’s surge in Wall Street as investors eagerly awaited upcoming inflation data for hints on potential interest rate cuts.
While Chinese markets participated in the regional uptrend, they underperformed due to several factors. The recent passage of a U.S. bill imposing fresh restrictions on Chinese biotechnology companies dampened sentiment. Additionally, a series of mixed economic indicators released over the past week weighed on Chinese stocks.
The primary focus this week is on the key US consumer price index inflation data, which is expected to influence the outlook for interest rates.
U.S. stocks rallied on Monday as investors bought the dip, anticipating a potential Federal Reserve rate cut later this month to support the slowing economy. Technology stocks, which were among the hardest hit last week, led the rebound. The Dow Jones Industrial Average surged 1.2%, the S&P 500 gained 1.16%, and the Nasdaq Composite jumped 1.16%.
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First Published: Sep 10 2024 | 9:36 AM IST
