Nifty rises in line with Asian counterparts while the Sensex opens 150 points higher.

Sensex Gains 150 Points as Nifty Follows Strong Asian Market Trend

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: September 05, 2024

Summary: As of 9:18 am, the S&P BSE Sensex was up 0.16 percent at 82,490.14, while the Nifty 50 index was up 0.16 percent at 25,238.15.

Following a sharp sell-off in the previous session, domestic benchmark indices opened higher on Thursday, mirroring a recovery in Asian counterparts.

The S&P BSE Sensex was up 0.16 percent at 82,490.14 as of 9:18 am, while the Nifty 50 index increased by 0.16 percent to 25,238.15.

Out of the thirteen key sectors, eleven saw gains. The wider, more locally oriented mid-caps and small-NIFSMCP100. Each NIFMDCP100 increased by roughly 0.5%.

The benchmark Nifty 50 ended its longest winning run on Wednesday, during which time the index reached record highs earlier in the week.

In the previous session, concerns about a downturn were heightened by weak US economic statistics, which also affected global markets.

Due to weak US labor market statistics and remarks made by a top Federal Reserve member, the likelihood of a 50 basis point reduction in interest rates on September 18 increased to 45% from 38% the day before.

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