Market Latest Updates: Sensex Crosses 40,000 For First Time In 5 Weeks; TCS Hits Record High

Domestic stock markets registered sharp gains on Thursday, with the benchmark S&P BSE Sensex index crossing the 40,000 level for the first time since August 31, as Asian equities hit a one-month peak on optimism about a recovery from COVID-19-caused damage. The Sensex jumped 464.13 points – or 1.16 per cent – to touch 40,343.08 at the strongest level in early deals, and the broader NSE Nifty 50 index climbed to as high as 11,870.45, up 131.6 points – or 1.12 per cent – from its previous close. Gains across most sectors – led by banking, IT and metal shares – pushed the markets higher. 

At 9:25 am, the Sensex traded 409.22 points – or 1.03 per cent – higher at 40,288.17, while the Nifty was up 115.75 points – or 0.99 per cent – at 11,854.60.

Wipro, HCL Tech, Tata Consultancy Services, Infosys and Tech Mahindra, trading between 3.15 per cent and 5.26 per cent higher, were the top gainers in the Nifty basket of 50 shares.

On the other hand, GAIL, ONGC, Asian Paints and Titan, down .71-1.67 per cent each, were the worst hit among 13 laggards in the index.

Tata Consultancy Services shares jumped more than 5 per cent to a record high, a day after the country’s largest IT company announced a share buyback worth up to ₹ 16,000 crore, and reported a 6.66 per cent sequential rise in net profit in the July-September period, though missing analysts’ estimates. 

Infosys, TCS and HDFC Bank were the biggest boosts to Sensex, together contributing more than 250 points to the gain in the index.

Asian equity markets pushed higher as renewed hopes for more US stimulus helped restore investor confidence with markets now pricing in a Democratic victory during elections in November.

MSCI’s broadest index of Asia-Pacific shares outside Japan extended gains to a fourth straight session to touch its highest level recorded since early September. It was last seen trading 0.07 per cent higher, while Japan’s Nikkei 225 benchmark was up 0.91 per cent. 

Market Latest Updates: Sensex Crosses 40,000 For First Time In 5 Weeks; TCS Hits Record High

Stock Market Updates: Gains across sectors pushed the markets higher

Domestic stock markets registered sharp gains on Thursday, with the benchmark S&P BSE Sensex index crossing the 40,000 level for the first time since August 31, as Asian equities hit a one-month peak on optimism about a recovery from COVID-19-caused damage. The Sensex jumped 464.13 points – or 1.16 per cent – to touch 40,343.08 at the strongest level in early deals, and the broader NSE Nifty 50 index climbed to as high as 11,870.45, up 131.6 points – or 1.12 per cent – from its previous close. Gains across most sectors – led by banking, IT and metal shares – pushed the markets higher. 

At 9:25 am, the Sensex traded 409.22 points – or 1.03 per cent – higher at 40,288.17, while the Nifty was up 115.75 points – or 0.99 per cent – at 11,854.60.

Wipro, HCL Tech, Tata Consultancy Services, Infosys and Tech Mahindra, trading between 3.15 per cent and 5.26 per cent higher, were the top gainers in the Nifty basket of 50 shares.

On the other hand, GAIL, ONGC, Asian Paints and Titan, down .71-1.67 per cent each, were the worst hit among 13 laggards in the index.

Tata Consultancy Services shares jumped more than 5 per cent to a record high, a day after the country’s largest IT company announced a share buyback worth up to ₹ 16,000 crore, and reported a 6.66 per cent sequential rise in net profit in the July-September period, though missing analysts’ estimates. 

Infosys, TCS and HDFC Bank were the biggest boosts to Sensex, together contributing more than 250 points to the gain in the index.

Asian equity markets pushed higher as renewed hopes for more US stimulus helped restore investor confidence with markets now pricing in a Democratic victory during elections in November.

MSCI’s broadest index of Asia-Pacific shares outside Japan extended gains to a fourth straight session to touch its highest level recorded since early September. It was last seen trading 0.07 per cent higher, while Japan’s Nikkei 225 benchmark was up 0.91 per cent. 

US President Donald Trump sent out a flurry of tweets on Wednesday urging Congress to pass piece-meal aid packages for targeted industries, small business and consumers, backpedaling from his earlier stance to unilaterally end negotiations.

All eyes will now be on US employment data due later in the day, which will likely show the recovery in the world’s largest economy losing steam.

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