Stock Market Update: The country’s retail inflation for November eased below the Reserve Bank of India’s upper tolerance limit of 6%, helping the benchmark equity indices on the BSE and National Stock Exchange (NSE) end over 0.6% higher on Tuesday. Gains in information technology (IT) and banking stocks were a major factor in this development.
The Nifty 50 increased 110.85 points (0.60%) to close at 18,608.00, while the S&P BSE Sensex increased 402.73 points (0.65%) to conclude at 62,533.30. Both indices posted stronger openings on the day and maintained gains throughout the trading period.
Today’s top gainers
The biggest gainers on Tuesday on the Sensex pack included IndusInd Bank, Bajaj Finance, Tata Consultancy Services (TCS), HCL Technologies, Mahindra & Mahindra (M&M), and Infosys. Conversely, the biggest losers were Hindustan Unilever (HUL), Tata Steel, Maruti Suzuki India, Titan Company, Nestle India, and Dr. Reddy’s Laboratories.
The Nifty PSU Bank index increased by 3.81 percent, and the Nifty IT index increased by 1.12 percent among the sectors indices. The important Nifty Bank index increased by 0.54%.
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The S&P BSE SmallCap index increased 120.12 points (0.40 percent) to close at 29785.49. In the overall market, the S&P BSE MidCap index increased 66.20 points (0.25 percent) to conclude at 26239.20.
Stock Market Update: Global Markets (from Reuters)
In advance of US inflation statistics that might persuade the Federal Reserve and other central banks to hold off on aggressive interest rate hikes, global markets held firm on Tuesday while the currency slipped slightly.
In the opening hours of European trading, the MSCI All-World index increased by 0.12%. It is on track for a 12.6% increase this quarter, which would be its biggest quarterly performance since the last three months of 2020, but it is on track for its first monthly fall since September after losing 1.2% so far.
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