Following Wall Street’s overnight movements, the markets in Japan, South Korea, and Australia saw a rise in early trade on Thursday following Federal Reserve Chair Jerome Powell’s confirmation that rate decreases are probable this year.
As of Wednesday, the Nasdaq Composite and S&P 500 Index were up 0.58% and 0.51%, respectively. By 0.20%, the Dow Jones Industrial Average reached a settlement.
A barrel of Brent crude was trading 1.12% higher at $82.96. An ounce of gold was down 0.05% at $2,147.15.
The advances in ICICI Bank Ltd. and Axis Bank Ltd. propelled India’s major stock indices to record closing highs on Wednesday, following a one-day decline.
The S&P BSE Sensex gained 408.86 points, or 0.55%, to close at 74,085.99, while the NSE Nifty 50 closed 117.75 points, or 0.53%, higher at 22,474.05.
On Wednesday, foreign investors continued to be net purchasers of Indian stocks. According to NSE statistics, foreign portfolio investors purchased stocks worth Rs 2,766.7 crore, while domestic institutional investors continued to be net buyers on the fourth day, scooping up equities worth Rs 2,149.9 crore.
The Indian rupee gained 7 paise against the US dollar, closing at 82.83.
Top stocks to watch today :
Vedanta Stocks to Watch: The business is looking at every legal avenue, including submitting a review appeal in opposition to the ruling of the supreme court, which denied the mining conglomerate’s request to reopen its copper smelter in Thoothukudi, Tamil Nadu.
In an effort to advance AI-first developments in professional tennis, Infosys, a significant player in the IT industry, has announced that it will be extending its digital innovation relationship with the ATP Tour through 2026.
Hindustan Aeronautics: The business has agreed to modify the LCA IOC agreement. The contract value has been adjusted to Rs 5,077.95 crore from Rs 2,700.87 crore.
Mahindra & Mahindra: For Rs 1,832 crore, the company’s promoter Prudential Management and Services has offered to sell up to 93 lakh shares, or 0.75% of the company’s equity.
Bajaj Finserv: The company’s division disclosed gross direct premiums for general insurance of Rs 1,294 crore and life insurance of Rs 1,050 crore for the month of February.
Asian Paints: To establish an ethylene storage and handling facility in Dahej, Gujarat, the company’s unit signed the necessary agreements with Gujarat Chemical Port.
Glenmark Pharmaceuticals: The business has begun to sell Nirma five fifths of its subsidiary, Glenmark Life Sciences. With effect from March 6, Glenn Saldanha resigned as Chairman and Non-Executive Director.
Life Insurance Corp.: Through a private placement, the insurer raised its ownership of LIC Mutual Fund from 40.93% to 44.61%. NLC India: Through an offer for sale at Rs 212 per share, the government will sell up to 9.71 crore shares, including the green shoe option.
Subex: The company declared that it has signed an agreement to use one of the major Southeast Asian telecom operators for the deployment of its cutting-edge fraud control and business assurance solutions on Hyper Sense.