Thursday, October 9

Sensex Rises 450 pts & More

Equity benchmark indices climbed for the second consecutive session on Tuesday, driven by gains in auto stocks and Reliance Industries amid positive global sentiment. The Sensex rose 468.81 points (0.58%) to 81,742.56, while the Nifty gained 129.65 points (0.52%) to close at 25,006.60. Top gainers included Tata Motors, Reliance Industries, Adani Ports and SEZ, Bajaj Auto, and ETERNAL, with increases up to 4%.

Key market drivers were:

  1. Auto shares jumped up to 6%, led by Ola Electric, Bajaj Auto, Hero MotoCorp, and others, boosted by reports of a possible GST cut on vehicles and China’s assurance to address rare earth magnet supply concerns.
  2. Reliance surged over 2% following Jio’s prepaid tariff changes and positive brokerage recommendations.
  3. Asian markets showed strength, with Shanghai and Hong Kong posting gains.
  4. Optimism grew over potential Russia-Ukraine peace talks, while PM Modi called for a peaceful resolution with Putin.
  5. Brent crude prices dipped, lowering India’s import costs.
  6. FIIs bought equities worth Rs 550.85 crore.
  7. Investors remain cautious ahead of the US Fed’s Jackson Hole symposium.
  8. The rupee strengthened to 87.20 against the dollar, supported by domestic equity gains and easing geopolitical risks.

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