Indian shares witnessed a rise, driven by the positive market response to China’s approval of a significant sovereign bond issue, signaling economic stimulus. The metal sector saw a 1.5% increase as China, the largest consumer of metals, approved a one trillion yuan sovereign bond issue aimed at infrastructure development.
At the time of writing Sensex was trading at Rs 64,115 which is a 0.71% drop than the precious day’s close. Whereas Nifty was trading at Rs 19,141 which is a 0.73% drop from the previous close. Top Nifty 50 gainers included companies like Hindalco Industries, Tata Steel, and JSW Steel, which contributed gains ranging from 1.2% to 3.5% in the stock market.
Asian markets showed a 0.6% increase in their performance. Wall Street equities saw gains due to robust quarterly results. U.S. Treasury yields, which had previously reached multi-year highs, eased in anticipation of U.S. GDP data and a critical inflation metric.
Brent crude futures experienced a three-session consecutive decline, reaching $88 per barrel, which is viewed positively by countries like India, which import commodities, resulting in lower costs.
Sugar stocks, including Balrampur Chini Mills, Shree Renuka Sugar, and Dhampur Sugar, witnessed a 2% to 4% surge. This increase was supported by a global rise in sugar prices to a 12-year high, driven by tightening supply.
Delta Corp’s stock price jumped by 8% following a court directive that halted the goods and service tax (GST) intelligence from making final decisions on tax notices against the casino operator without court approval.
KPI Green Energy experienced a 3% increase after securing a new order to execute a wind-solar hybrid power project.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.