‘Indian markets opened on a positive note following Asian market cues as globally investors assess U.S. Fed’s decision on taper and rates’
Equity benchmark Sensex ended 113 points higher on Thursday, tracking gains in index majors Infosys, Reliance Industries and Bajaj Finance amid a positive trend overseas.
The 30-share index advanced 113.11 points or 0.20% to settle at 57,901.14. Similarly, the NSE Nifty rose 27 points or 0.16% to 17,248.40.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3%, followed by Infosys, Titan, Reliance Industries and HCL Tech.
On the other hand, Maruti, Bajaj Auto and Sun Pharma were among the laggards.
"Indian markets opened on a positive note following Asian market cues as globally investors assess U.S. Fed’s decision on taper and rates," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
The U.S. Fed said it will aggressively unwind bond buying and sees three rate hikes in 2022 and two each in next two years.
"During the afternoon session, the markets continued to hold their head above water. However, upside remained capped on relentless FII selling in capital markets which impacted traders’ sentiment. During the closing session, the markets succumbed to selling pressure," he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.
Stock exchanges in Europe were trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude firmed up 0.97% to $74.60 per barrel.
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