Sensex Today: Equity benchmark indices, the BSE Sensex and NSE Nifty50, ended with gains of over 1 per cent each on Wednesday. The BSE Sensex jumped 874.94 points or 1.11 per cent to 79,468, while the NSE Nifty50 climbed 304.95 points or 1.27 per cent to 24,297.
As many as 44 out of 50 constituent stocks of the Nifty50 ended higher, with ONGC, Coal India, Adani Enterprises, and Adani Ports gaining up to 7.45 per cent. On the BSE, 25 out of 30 constituent stocks of the Sensex ended in the green, with gains led by Adani Ports, Power Grid, and Tata Steel of up to 3.47 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: “Global markets experienced a notable rebound after the BoJ’s Deputy Governor reassured that the central bank would not raise interest rates during a period of financial instability. The Indian market also witnessed broad-based buying across sectors, with the Realty sector seeing a relief rally due to the reinstatement of indexation benefits. The carry trade issue appears to have been eased for now and the focus is on the ongoing RBI policy, which is likely to hold the rate and positive economic outlook.”
Global Cues
Asia-Pacific markets mostly rose after Bank of Japan’s Governor Kazuo Ueda in his speech assured investors that the central bank of Japan will not raise rates when market is unstable and it needs to keep easing firmly for the time being.
In Asia, the Nikkei declined by 2.19 per cent, while Japan’s broader Topix index was up by 3.06 per cent.
In South Korea, the Kospi climbed 2.10 per cent and the Kosdaq rose 2.7 per cent. Australia’s S&P/ASX 200 edged up by 0.35 per cent. Meanwhile, Hong Kong’s Hang Seng index, too, traded in green and soared by 1.40 per cent.
Furthermore, investors in Asia will today watch out for China’s July trade data, with forecasts predicting a 9.7 per cent year-over-year increase in exports, up from June’s 8.6 per cent rise. Imports are expected to grow by 3.5 per cent, reversing June’s 2.3 per cent decline.
Overnight in the US, major indices rebounded after three consecutive days of losses. The Dow Jones Industrial Average increased by 0.76 per cent, the S&P 500 rose 1.04 per cent, and the Nasdaq Composite advanced 1.03 per cent.
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