Stock Market Update: Sensex and Nifty Surge Amid Positive Trends

Equity Benchmark Indices Show Positive Momentum

In a vibrant stock market update, equity benchmark indices rebounded in early trade on Thursday, tracking a rally in global markets and foreign fund inflows. The 30-share BSE Sensex jumped 428.83 points to 81,951.99 in early trade, while the NSE Nifty climbed 154.1 points to 25,072.55. Among the 30 Sensex firms, Tata Steel, Adani Ports, Bharti Airtel, Tech Mahindra, Kotak Mahindra Bank, and State Bank of India were the biggest gainers; by contrast, Tata Motors, Asian Paints, Nestle, and Bajaj Finserv lagged behind.

Impact of US Inflation on Market Movements

In the backdrop of this stock market update, global markets experienced strong gains due to positive US inflation numbers for August, which came in at 0.2%, leading to a 12-month inflation reduction from 2.9% to 2.5%. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, this could pave the way for a potential rate cut by the Fed in September, although caution remains due to high core inflation at 3.2%. This climate has led to Foreign Institutional Investors (FIIs) purchasing equities worth Rs 1,755 crore on Wednesday.

Rupee Performance Against the Dollar

In related news, the Indian rupee witnessed range-bound trade, appreciating by 2 paise to 83.97 against the US dollar, driven by a positive trend in domestic equities and foreign fund inflows. Forex traders noted that the rupee remained steady, with active intervention from the Reserve Bank of India (RBI).

Summary of Key Points

• The Sensex rose by 428.83 points, closing at 81,951.99.
• The Nifty climbed 154.1 points to reach 25,072.55.
• FIIs have shown strong buying interest in the last three days.
• Positive US CPI inflation influences market sentiment.
• Indian rupee appreciates slightly, supported by foreign inflows.