The benchmark equity index Sensex and Nifty recorded a boom in early trade on Wednesday after a day -long positive discussion with the US team that came on a tour over bilateral trade agreement with India. Both sides agreed to end the agreement quickly and mutually beneficial. The 30 -share BSE Sensex rose 262.74 points to 82,643.43 in early trade. The 50 -share NSE Nifty rose 85.25 points to 25,324.35.
Who benefits?
Sensex companies were the biggest gains among India Electronics, UltraTech Cement, Trent, Larsen & Toubro, Tata Consultancy Services, HCL Tech, Infosys and Tech Mahindra. However, Adani Ports, Mahindra & Mahindra, Tata Steel and Eternal were seen lagging behind. Foreign institutional investors (FIIs) became buyers on Tuesday. According to exchange data, he bought shares worth Rs 308.32 crore.
Sensex’s condition of 30 shares
NSE top gainers and top losis shares
What do experts say?
VK Vijaykumar, the main investment strategist at Geojit Investments Limited, said, “The boom in the market is inspired by the pace of positive feelings and basic things. The market hopes that a renewed trade talks between Indo-US will reach an agreement, resulting in withdrawn 25 percent of the punitive fees levied on India. If expectations turn into reality, it will be a very positive feeling. ‘ He said that GST reform is expected to increase a significant increase in demand under the leadership of automobiles.
Vijaykumar said, ‘Fed is expected to deduct the interest rates by 25 basis points tonight. The market will keep an eye on Fed’s comment on the emerging economic scenario and future interest rate changes in future.
What did the Ministry of Commerce say?
The Commerce Ministry said on Tuesday that the discussion with the US team on a tour on the bilateral trade agreement was positive and both sides agreed to make efforts to make the agreement early and mutually beneficial. After a day’s meeting with US officials, the ministry said in a statement, “It was decided to intensify efforts to complete the editionally beneficial trade agreement as soon as possible.”
Asian-American market and Brent crude condition
Among the Asian markets, Japan’s Nikkei 225 index, Shanghai’s SSE Composite Index and Hong Kong’s hangs were trading in a positive scope, while South Korea’s Kospi was weak. The US markets closed down on Tuesday. Global oil benchmark Brent crude fell 0.16 percent to $ 68.36 per barrel.
The condition of the past day
Earlier on Tuesday, the Sensex rose 594.95 points or 0.73 percent to close at 82,380.69. The Nifty rose 169.90 points or 0.68 percent to 25,239.10.
