July 21, 2024

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Sensex Gains 195 Points; Nifty Closes Around 22,000 Amid F&O Expiry

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Indian shares ended a choppy session higher on Thursday as signs of softening inflation in Spain, France and six economically important German states fueled debate on when the European Central Bank would cut interest rates.

The upside remained capped somewhat ahead of the release of the U.S. personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, later in the day that could influence the Fed’s rate trajectory.

The benchmark S&P/BSE Sensex rose 195.42 points, or 0.27 percent, to 72,500.30 while the broader NSE Nifty index settled 31.65 points, or 0.14 percent, at 21,982.80 on eve of monthly F&O expiry.

Britannia Industries, Tata Consumer Products, IndusInd Bank, Adani Ports and Adani Enterprises all rose about 2 percent while Bajaj Auto gave up 3.2 percent and Apollo Hospitals Enterprise lost 3.8 percent.

Global cues were mixed, the dollar was firm, and gold hovered near a two-week high while oil extended overnight losses after the release of bearish crude stockpile data.

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Market Analysis

2024-02-29 05:26:17

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