On Thursday, the Indian stock market commenced trading on an optimistic note, driven by investor excitement following favorable U.S. inflation data and strong earnings reports from major financial institutions such as JPMorgan Chase, BlackRock, Goldman Sachs, and Citigroup.
In early trading, the primary index, S&P BSE Sensex, experienced a rise of 212 points, equivalent to a 0.3 percent increase, reaching 76,936. Meanwhile, the broader NSE Nifty index advanced by 85 points, or 0.4 percent, landing at 23,297.
Notably, HDFC Life Insurance surged by 10 percent upon announcing a 14 percent increase in its net profit for the third quarter. L&T Technology Services saw an 8 percent rise, despite a 4 percent year-on-year decline in consolidated net profit for Q3FY24.
Swiggy's shares climbed by 2.7 percent following the creation of a sports subsidiary. Rail Vikas Nigam gained 7.7 percent after securing a contract valued at Rs 3,622 crore from BSNL.
Both Reliance Industries and Infosys marked moderate gains, while Axis Bank increased by 0.7 percent, and LTIMindtree gained 1.4 percent, as investors anticipated their upcoming earnings announcements.
Additionally, GAIL achieved a nearly 2 percent increase after finalizing a settlement agreement with SEFE Marketing & Trading Singapore. Indian Railway Finance Corporation saw a 3 percent jump following a lease agreement with NTPC for eight BOBR rakes, worth Rs 250 crore, in its initial phase.
Conversely, CEAT's shares fell by over 6 percent due to unsatisfactory financial results.
The material has been provided by InstaForex Company -
www.instaforex.com
