NIFTY50 tops 25,000; SENSEX surges 400 pts amid strong global cues; Honasa Consumer slips 5%

At 9:30 AM, the S&P BSE SENSEX was trading 432 points, or 0.53%, higher at 81,955.12 levels, while the broader NIFTY50 was ruling at 25,057.10 points, up 139 points, or 0.52%. 

Tata Steel (up 2.26%) was the top gainer on the 30-share index of the BSE, followed by Adani Ports and Tech Mahindra. 

Top gainers and losers on the NSE

Sectoral Performance

Metal stocks rallied the most, followed by power and healthcare shares. 

NBCC shares were up over 3% after the company signed a memorandum of understanding (MoU) with Mahanagar Telephone Nigam Limited (MTNL) to collaborate to develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi. The project is valued at ₹1,600 crore, approximately.

Broader Market

The second-rung stocks, too, were trading with decent gains. The BSE MidCap index was trading 0.73% higher at 48,726.27 levels, while the BSE SmallCap index was up 0.48% at 56,418.88. 

Global Markets

All three major US stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an early morning inflation report, which crushed hopes the Federal Reserve would cut interest rates by 50 basis points next week.

Asian stocks bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after US core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.

In the commodity market, oil prices rose, spurred by concerns of Hurricane Francine impacting output in the US, the world's biggest crude producer, though worries of lower demand capped gains. Brent crude futures for November were up 40 cents, or 0.6% at $71.01 a barrel at 0330 GMT. US crude futures for October were up 32 cents, or 0.5%, at $67.63 a barrel.