AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Follow us

BENGALURU: Indian shares closed higher on Thursday, lifted by a rise in metal stocks, and other Asian equities on improved sentiment over expectations that major central banks may get less aggressive about rate hikes.

The NSE Nifty 50 index advanced 0.46% at 17,736.95 at close, and the S&P BSE Sensex ended 0.36% higher to 59,756.84.

“Market is consolidating because we’ve had recent gains and global cues are mixed,” said Ajit Mishra, vice president - research at Religare Broking.

The benchmark indexes in the previous session snapped a seven straight streak of gains.

“I won’t say this is a negative market, just that it is trying to digest gains seen from 16,900 (from earlier this month) to 17,800. How the remaining earnings season pans out will determine the trend from here on,” Mishra added, referring to Nifty levels.

In the broader market, Asian peers rose on Thursday on hopes of less hawkish central banks. European equities fell as traders were cautious ahead of an expected 75 basis point from the European Central Bank.

Indian shares decline as metal stocks weigh

In domestic trading, the Nifty’s metal index was 2.7% up to close at a one-month high.

JSW Steel, Hindalco Industries, and Tata Steel led gains on the Nifty 50 index throughout the trading session, finishing between 2% and 5% higher.

“Bond yields in U.S. and dollar index coming down a bit on hopes of less aggressive rate hikes by the Fed is what is helping the metal stocks on expectations that demand for the commodities will improve,” said Neeraj Dewan, director at Quantum Securities.

PNB Housing Finance closed 5% higher after the company reported an 11.7% rise in its September-quarter consolidated net profit after tax.

Bhageria Industries finished 3.6% lower after the chemical maker said a breakdown in its gamma acid plant in the state of Maharashtra killed three and left 12 injured.

Comments

Comments are closed.

Indian shares end higher as metals boost

Imran Khan to contest by-elections on all 33 NA seats: Qureshi

Ishaq Dar announces 35-rupee hike in prices of petrol and diesel

Gulf stocks rise on hope of slower Fed rate hikes

At least 41 killed as passenger coach falls into ravine in Lasbela

6.3 magnitude earthquake jolts Islamabad, surrounding areas

Ten children killed in northwest Pakistan boat capsize

Blinken arrives in Egypt as Middle East violence erupts

Former UN chief calls for climate action over ‘visions’ at COP28

Djokovic wins Australian Open to equal Nadal’s 22 Slam titles

China’s 2022 smartphone shipments the lowest in 10 years