Midday markets: Nifty surges 1.36%, Sensex up 1.26%

NSE nifty was up by 1.36 per cent or 301.26 to 22,424.85 points, while the BSE Sensex was at 73,914.23, up by 1.26 per cent or 917.92 points at 1.38 pm on Thursday.

A total of 3,840 stocks were actively traded, 2,181 advanced, while 1,542 declined. 117 stocks remained unchanged where 119 stocks hit a 52 week high and 122 stocks hit a 52 week low.

• Also read: Markets see gains; liquidity influx drives rally

“On the global front, US stocks fluctuated over the course of the trading session on Wednesday but managed to end the day mostly higher thanks to a late-day surge. With the upward move, the Dow and the S&P 500 snapped three-day losing streaks. The strength on Wall Street came as traders once again looked to pick up stocks at somewhat reduced levels after early buying interest faded over the course of Tuesday’s session,” said Avdhut Bagkar Technical and Derivatives Analyst, StoxBox.

Meanwhile, Asian markets were trading lower in the early trade. On the commodity front, gold prices gained as investors awaited the US inflation data that could cast further light on the Federal Reserve’s policy path. In addition, oil prices were broadly level, after official numbers were released for the US crude stockpile and signs the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week. 

On the domestic front, the Centre will borrow ₹7.50 lakh crores via the issuance of government securities in the April-September period of FY25. In addition, banks and non-banking financial companies could be in focus today after the Reserve Bank of India (RBI) modified the norms for their investment in alternative investment funds (AIF).

However, the benchmark Sensex and Nifty indices are likely to open higher as trends in the GIFT Nifty indicate a positive start for the broader index.”

Major gainers on the NSE at 1.40 pm include Bajaj Finserv (4.38 per cent), Bajaj Finance (3.12 per cent), Apollo Hospitals (2.73 per cent), Grasim (2.48 per cent), Hero Motocorp (2.24 per cent).

Major losers include, Shriram Finance (-1.94 per cent), Bajaj Auto (-1.11 per cent), HCL Tech (-0.47 per cent), Britannia (-0.41 per cent), Axis Bank(-0.19 per cent)

BSE SmallCap was up by 0.68 per cent and Midcap up by 0.94 per cent indicating gains.

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