Sensex Jumps 905 Points to 74,151; Nifty Ends at 22,937

The Sensex rose 905.01 points, or 1.24%, to close at 74,151.04 on Thursday, 29 October, and the Nifty 50 gained 237.90 points, or 1.05%, to end at 22,936.75, according to closing-bell reports from 5paisa and Kotak Neo. The Sensex’s gain more than made up for Wednesday’s fall of 353 points to 73,246.

Realty and FMCG Lead the Climb

Nifty Realty was the top sectoral gainer at 2.75%, followed by Nifty FMCG at 2.34% and Nifty PSU Bank at 2.20%, the reports said. Nifty IT rose 0.99% after the previous day’s losses. Nifty Auto, down 0.24%, was the only sector in the red on 5paisa’s tally. Mid-caps rose about 0.99% and small-caps about 0.95%.

Kotak Mahindra Bank gained 4.32% and added the most points to the Nifty, followed by Adani Ports and Eternal. HDFC Bank, Maruti Suzuki and Trent pulled the index down. Of the stocks traded, 2,196 advanced and 1,387 declined.

Also read Sensex Ends 126 Points Lower at 73,124; Smallcaps Fall 3%

Fed Pause and Crude Below $115

5paisa said the Federal Reserve held its benchmark rate at 3.75% to 4%, keeping investors focused on the inflation outlook. Brent crude fell about 1.4% to around $114 a barrel, still high enough to keep import costs and inflation in view for India. Kotak Neo also cited foreign institutional buying, without giving figures, and growing hopes of a cut in long-term capital gains tax. Neither report gave a source for the tax talk, and no cut has been announced.

What Traders Watch Next

European markets traded higher on the day, with France’s CAC 40 up 0.97% and Germany’s DAX up 0.90%. Dow futures rose 0.58% while S&P 500 and Nasdaq 100 futures fell. Indian markets reopen on Friday, 30 October. For the previous session, see Sensex falls 353 points to 73,246, and for more market stories visit Daily Updates.

Source: Based on reporting by 5paisa and Kotak Neo.

Image: File photo.