Stock Market Open Thursday : Sensex crosses 81,000 points as stock market rises

The index Sensex and Nifty registered gains in early trade on Thursday amid strong trend in global markets. Around 11 am, the BSE's 30-share index Sensex rose 171.63 points or 0.21 per cent to 81,076.93. The NSE Nifty was seen trading at 24,824.00 points with a gain of 53.80 (0.22%).

Today, the stock market has seen a booming trade. Both the indices have opened with a slight gain. The Sensex is trading with a gain of 129 and the Nifty with a gain of 59 points. The rise in the stock market has also affected the Indian currency. Today the rupee has opened in a limited range against the dollar. The rupee closed down on Wednesday.

Agency, New Delhi. Today the market has started trading with a rise for the third day after the inflow released by foreign investors and good signals from the global market.

Market analysts said oil prices continued to fall due to demand concerns and the minutes of the recent Federal Reserve meeting indicated a possible rate cut amid signs of a decline in inflation and rising unemployment rate. Due to these reasons, the Indian stock market rose. Apart from this, the continued buying in HDFC Bank and Infosys shares also boosted the market.

Today in early trade, it is trading at 81,034.75 points with a gain of 129.45 points or 0.16 percent. Nifty is also trading at 24,829.85 points with a gain of 59.65 points or 0.24 percent.

How will the stock market start?

Benchmark Sensex and Nifty are expected to have a strong start on Thursday amid strong signals from the global market.

GIFT Nifty futures are also indicating a positive start. At around 7:04 am, it was seen trading at 24,884 level with a gain of 88.3 points.

Korea's central bank kept its benchmark interest rate steady at 3.5 per cent, as expected. All eyes are now on its upcoming announcements, which could signal policy easing.

In Asia, Japan's Nikkei 225 index closed with a gain of 0.96 percent, while the broader Topix index was up 0.33 percent. South Korea's Kospi also rose 0.13 percent, while the Kosdaq fell 0.41 percent.

The strong global momentum was also due to the minutes of the Federal Reserve's July meeting, which indicated that while some members were in favor of cutting rates in July, most believed that if inflation data remains stable, it would be appropriate to ease policies at the next meeting.

Australia's S&P/ASX 200 index closed with a gain of 0.24 percent. Hong Kong's Hang Seng index fell 0.66 percent to 17,506.

Top Gainers and Losers

Among the companies listed on the Sensex, shares of Bharti Airtel, Infosys, Asian Paints, Tata Steel, State Bank of India, HDFC Bank, ICICI Bank and Tech Mahindra rose. Shares of Power Grid, Tata Consultancy Services, Tata Motors, Mahindra & Mahindra, NTPC and Adani Ports and Special Economic Zone declined.

Opening Bell

Indian stock market started positive on Thursday morning. BSE Sensex and Nifty 50 opened in the green mark. The market witnessed enthusiasm due to indications of the possibility of interest rate cut in the minutes of the latest meeting of the US Federal Reserve.

In early trade, the 30-share BSE Sensex jumped 191.35 points to 81,096.65, while the Nifty 50 climbed 62.25 points to 24,832.45. This boom in the market has come due to expectations of interest rate cut by the US central bank once within the year.

Share Status

Shares of Bharti Airtel, Infosys, Asian Paints, Tata Steel, State Bank of India, HDFC Bank, ICICI Bank and Tech Mahindra are trading with gains in the Sensex. On the other hand, shares of Power Grid, Tata Consultancy Services, Tata Motors, Mahindra & Mahindra, NTPC and Adani Ports and Special Economic Zone are trading with losses.

Global market condition

In Asian markets, Tokyo and Hong Kong were trading in the green zone, while Shanghai and Seoul were lower on Thursday. US markets closed higher on Wednesday. Global oil benchmark Brent crude fell 0.03 per cent to USD 76.03 per barrel.

According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 799.74 crore on Wednesday. Domestic institutional investors (DIIs) bought equities worth Rs 3,097.45 crore.

ow was the market movement yesterday?

Indian stock markets remained sluggish on Wednesday (August 21) due to lack of any major signal for most part of the session.

The BSE Smallcap index, led by small companies, gained 0.87 per cent. At the same time, the BSE Midcap index associated with mid-sized companies rose 0.43 per cent.

The 30-share BSE Sensex closed at 80,905.30, up 102.44 points or 0.13 per cent, while the NSE Nifty closed at 24,770.20, up 71.35 points or 0.29 per cent.

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