The Sensex and Nifty closed higher for the second consecutive session, with the broader market indices outperforming the benchmarks.

StocksSuccessor

10 Sept 2024

The broader market indices outperformed the benchmark indices, with the BSE Midcap index gaining 0.5 percent and the Smallcap index rising 1.5 percent.

The Indian stock market had a good day today, with both the Sensex and Nifty going up. This was mostly because of strong buying in IT, telecom, power, and healthcare stocks. The Sensex went up by 361 points, which is 0.4%, to 81,921. The Nifty went up by 104 points to 25,041. More stocks went up than went down today.

The market was a bit up and down throughout the day, but it couldn't stay above 25,100. Rupak De, who's a technical analyst, said that the market might not do well in the near future unless it can close above 25,100.

Ambareesh Baliga, who's an independent market analyst, said that the market is doing well because there's a lot of money flowing into it. So, even when the market goes down, people are buying more stocks.

The US stock market also did well yesterday, which helped the Indian market today. The Nasdaq went up by 1.3%. This, along with the expectation of a rate cut by the Federal Reserve, helped the Nifty IT index go up by more than 2%.

A report by Motilal Oswal said that the IT services sector is starting to do better after a tough time. They said that the sector is now ready to grow over the next few years. The report said that the sector will grow because of Global Capability Centers, Generative AI, and cloud services.

The Sensex and Nifty closed higher for the second consecutive session, with the broader market indices outperforming the benchmarks.

Several pharmaceutical companies also did well today because of a GST cut on cancer drugs and the passage of the US Biosecure Act.

Some of the biggest gainers today were Wipro, Bharti Airtel, LTIMindtree, and Divis Labs. On the other hand, Bajaj Finance, Shriram Finance, Bajaj Finserv, SBI Life, and HDFC Life did not do well. Investors are now waiting for the US Consumer Price Index (CPI) report and the initial jobless claims data.

This data will give us an idea of inflation and unemployment in the US before the FOMC meeting. People are also watching the US presidential debate between Kamala Harris and Donald Trump.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing involves risks, and past performance is not indicative of future results. Please consult with a financial advisor before making any investment decisions.

StocksSuccessor.com

The Sensex and Nifty closed higher for the second consecutive session, with the broader market indices outperforming the benchmarks.

The market was a bit up and down throughout the day, but it couldn't stay above 25,100. Rupak De, who's a technical analyst, said that the market might not do well in the near future unless it can close above 25,100.

Ambareesh Baliga, who's an independent market analyst, said that the market is doing well because there's a lot of money flowing into it. So, even when the market goes down, people are buying more stocks.

The US stock market also did well yesterday, which helped the Indian market today. The Nasdaq went up by 1.3%. This, along with the expectation of a rate cut by the Federal Reserve, helped the Nifty IT index go up by more than 2%.

A report by Motilal Oswal said that the IT services sector is starting to do better after a tough time. They said that the sector is now ready to grow over the next few years. The report said that the sector will grow because of Global Capability Centers, Generative AI, and cloud services.

Several pharmaceutical companies also did well today because of a GST cut on cancer drugs and the passage of the US Biosecure Act.

This data will give us an idea of inflation and unemployment in the US before the FOMC meeting. People are also watching the US presidential debate between Kamala Harris and Donald Trump.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing involves risks, and past performance is not indicative of future results. Please consult with a financial advisor before making any investment decisions.