The Indian stock market galloped on Thursday morning showing strong signs of recovery.
The Sensex advanced 531.45 points, or 0.68%, at 79,009.03, while the Nifty gained 172.15 points, or 0.72%, at 23,924.
Foreign institutional investors (FIIs) offloaded equities worth ₹2,376.67 crore on December 26, while domestic institutional investors (DIIs) stepped in as net buyers, purchasing equities worth ₹3,336.16 crore on the same day.
Indian stocks in focus on Friday
In the Nifty, IndusInd Bank, Tata Motors, and ICICI Bank were rallying, while TCS, HCL Tech, Larsen, and Toubro and were among the top losers.
The Nifty Auto index led sectoral gains, rising 0.9% driven by Bajaj Auto, Hero MotoCorp, M&M, and Tata Motors, which climbed between 1% and 2.5%.
Sectorally, all indices were in the green.
The Nifty smallcap index gained 0.4%, while the midcap index was up 0.25%.
IndusInd Bank shares surged over 3%, following the bank’s decision to sell ₹1,573 crore worth of MFI loans.
Asian markets mostly higher
Asian markets continue to show resilience, with traders remaining cautiously optimistic.
In Japan, the Nikkei 225 surged 629 points, or 1.59%, to trade at 40,197.96, hitting an intraday high of 40,203.40.
The rally was fueled by stronger-than-expected domestic economic data, with retail sales in November rising 2.8% year-on-year, exceeding forecasts of 1.7% and rebounding from October’s revised 1.3% increase.
South Korea’s Kospi index fell below the 2,400 mark, trading at 2,395.75 in the morning session amid heavy selling by foreign and institutional investors, as political turmoil in the country deepened.
Hong Kong stocks were jittery after reopening from a two-day break, as a fourth consecutive month of profit declines for Chinese industrial companies raised concerns about earnings. The Hang Seng Index edged up 0.12% to 20,121.80, and the Hang Seng Tech Index climbed over 1%.
On the mainland, the CSI 300 Index slipped 0.1%, while the Shanghai Composite Index inched up 0.1% in early trading.
Australia’s S&P/ASX 200 gained 36.70 points, or 0.45%, to trade at 8,257.60, extending its upward momentum for the third consecutive session.
Wall Street mostly flat on Thursday
After opening lower on Thursday, US stocks regained ground throughout the day, with the major indices ending the session mostly flat.
The Dow added 28.77 points, or 0.1%, to finish at 43,325.80, marking its fourth straight session of gains after a ten-day losing streak.
Meanwhile, the tech-heavy Nasdaq dipped 10.77 points, or 0.1%, to 20,020.37, and the S&P 500 eased 2.45 points, or less than 0.1%, to 6,037.59.
Early losses in the session stemmed from profit-taking after recent market recoveries, with the Nasdaq and S&P 500 reclaiming nearly all of last week’s declines.
On the economic front, the Labor Department reported a slight decline in initial jobless claims to 219,000 for the week ended December 21, down from the prior week’s 220,000 and defying expectations of a rise to 224,000.
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