At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 79.53 points or 0.09% to 80,000.21. The Nifty 50 index rose 27.15 points or 0.11% to 24,351.60.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.43% and the S&P BSE Small-Cap index added 0.48%.
The market breadth was strong. On the BSE, 1,872 shares rose and 659 shares fell. A total of 118 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 583.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,082.40 crore in the Indian equity market on 10 July 2024, provisional data showed.
Stocks in Spotlight:
Tata Elxsi declined 1.61%. The companys revenue increased 2.3% YoY to Rs 926 crore in Q1 FY25. Net profit declined 6.5% to Rs 184 crore in Q1 FY24 from Rs 197 crore in Q1 FY224.
Also Read
PTC Industries added 1.42% after the company announced that its board is scheduled to meet on Saturday, 13 July 2024, to consider a proposal for raising of funds, in one or more tranches.
Satin Creditcare Network gained 1.73% after the company received 15 million euros in debt funding from Austria's OeEB.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 0.01% to 6.977 as compared with previous close 6.976.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5075, compared with its close of 83.5150 during the previous trading session.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 104.94.
The United States 10-year bond yield added 0.31% to 4.291.
In the commodities market, Brent crude for September 2024 settlement added 65 cents or 0.76% to $85.73 a barrel.
Global Markets:
Asian stocks advanced on Thursday, fueled by tech gains and record highs in Japan, after chipmaker TSMC's strong revenue boosted optimism for AI. TSMC's record revenue in June, driven by surging AI demand, pushed its share price up nearly 2% in Taiwan.
The rally followed a surge on Wall Street overnight, where the S&P 500 and NASDAQ hit records on hopes of a soft economic landing and potential Fed rate cuts later this year. All eyes are now on upcoming consumer inflation data, which will heavily influence the Fed's decision on interest rates.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content