The 30-share BSE Sensex gained 209.39 points to 60,866.84 in initial trade. The broader NSE Nifty rose 59 points to 18,101.95.
Published Date – Thu, 05 Jan 23 at 01:00pm
Mumbai: Equity benchmarks rallied in opening trade on Thursday after falling the previous day amid firm global markets, but then faced waves of volatility.
The 30-share BSE Sensex gained 209.39 points to 60,866.84 in initial trade. The broader NSE Nifty rose 59 points to 18,101.95.
However, later on both benchmarks became unstable.
The Sensex fell 34.37 points to 60,623.08, while the Nifty gained 5.20 points to 18,048.15.
In the Sensex pack, NTPC, ITC, Hindustan Unilever, Nestle, HCL Technologies, Mahindra & Mahindra, Titan, Larsen & Toubro, State Bank of India and Asian Paints were the key winners.
Bajaj Finance, Bajaj Finserv, Power Grid, HDFC Bank, ICICI Bank and IndusInd Bank were laggards.
Elsewhere in Asia, stock markets in Seoul, Tokyo, Shanghai and Hong Kong traded in the green.
U.S. markets closed in positive territory on Wednesday.
“The Fed minutes were distinctly hawkish, with the message “the need to maintain a restrictive policy stance until upcoming data provide confidence that inflation will continue to fall to 2%”.
“Despite the hawkishness of the minutes, U.S. markets closed higher on expectations of a soft landing for the U.S. economy as the economy continues to remain resilient,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
The BSE benchmark index fell 636.75 points or 1.04 percent to close at 60,657.45 on Wednesday. The Nifty closed 189.60 points or 1.04 percent lower at 18,042.95.
Brent crude, the international oil benchmark, rose 1.03% to $78.64 a barrel.
Foreign institutional investors (FIIs) sold shares worth Rs 2,620.89 crore on Wednesday, according to exchange data.
