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MUMBAI: After nearly three weeks, the sensex rose above the 81K mark on Thursday on positive global cues, especially the rising chances of a rate cut by the US Federal Reserve next month. The sensex opened about 200 points up, showed a steady trend and closed at 81,053 points – up 148 points.
During the day’s session, buying was across sectors with ICICI Bank, Bhartia Airtel and HDFC Bank contributing the most to the day’s gain.According to Vinod Nair of Geojit Financial Services, the domestic market witnessed modest gains on Thursday owing to positive global sentiments. “Particularly, the recent signs of weakness in the US non-farm payroll data have strengthened the case for potential interest rate cuts (by the US Fed) in Sept. However, in the broader market, investors are being cautious, opting for a selective approach, awaiting more clarity from central bank leaders in Japan and the US.”
The day’s rally was led by domestic funds that recorded net buying at Rs 2,972 crore while foreign institutional investors had a net buying of Rs 1,372 crore, BSE data showed.
During the day’s session, buying was across sectors with ICICI Bank, Bhartia Airtel and HDFC Bank contributing the most to the day’s gain.According to Vinod Nair of Geojit Financial Services, the domestic market witnessed modest gains on Thursday owing to positive global sentiments. “Particularly, the recent signs of weakness in the US non-farm payroll data have strengthened the case for potential interest rate cuts (by the US Fed) in Sept. However, in the broader market, investors are being cautious, opting for a selective approach, awaiting more clarity from central bank leaders in Japan and the US.”
The day’s rally was led by domestic funds that recorded net buying at Rs 2,972 crore while foreign institutional investors had a net buying of Rs 1,372 crore, BSE data showed.