At 09:30 IST, the barometer index, the S&P BSE Sensex, gained 424.55 points or 0.56% to 77,151.38. The Nifty 50 index added 127.55 points or 0.55% to 23,345.05.
The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 1.32% and the S&P BSE Small-Cap index rose 1.52%.
The market breadth was strong. On the BSE, 2,560 shares rose and 464 shares fell. A total of 129 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,533.49 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,682.54 crore in the Indian equity market on 15 January 2025, provisional data showed.
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L&T Technology Services jumped 8.41%. The companys consolidated net profit fell 4.1% to Rs 322.40 crore in Q3 FY25 as compared with Rs 336.20 crore in Q3 FY24. Net sales increased 9.5% YoY to Rs 2,653 crore during the quarter.
HDFC Life Insurance Company surged 9.24% after the companys consolidated net profit jumped 14.6% to Rs 421.31 crore despite of 36.1% decline in Total income to Rs 17,270.97 crore in Q3 FY25 over Q3 FY24.
Punjab & Sind Bank rallied 5.81% after the banks standalone net profit surged 146.7% to Rs 281.96 crore in Q3 FY25 as compared with Rs 114.31 crore in Q3 FY24. Total income jumped 14.6% YoY to Rs 3,269.37 crore in Q3 FY25.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was up 1.41% to 6.925 as compared with previous close 6.829.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.4350, compared with its close of 86.4050 during the previous trading session.
MCX Gold futures for 5 February 2025 settlement rose 0.23% to Rs 78,889.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 109.08.
The United States 10-year bond yield shed 0.04% to 4.651.
In the commodities market, Brent crude for March 2025 settlement rose 35 cents or 0.43% to $82.38 a barrel.
Global Markets:
Asian shares advanced on Thursday, mirroring Wall Street's gains, as a softer-than-expected US core inflation report revived hopes for Federal Reserve interest rate cuts later this year.
The US core consumer price index (CPI), which excludes volatile food and energy prices, increased by 0.2% in December, marking the first slowdown in six months. This eased concerns about inflation and bolstered expectations that the Fed might begin cutting rates sooner than previously anticipated. Swap traders are now fully pricing in a rate cut by July, a significant shift from the expectations of a September or October cut following Friday's strong jobs report.
The year-over-year increase in core CPI was 3.2%, still above the Fed's 2% target. However, the deceleration in the monthly rate provided confidence that inflation is gradually cooling down.
Wall Street experienced a sharp rally on Wednesday, fueled by a combination of positive bank earnings and the encouraging inflation data. The S&P 500 surged 1.8%, the NASDAQ Composite climbed 2.5%, and the Dow Jones Industrial Average jumped 1.7%.
JPMorgan Chase, Wells Fargo, Goldman Sachs, and Citigroup, among other major banks, reported strong fourth-quarter earnings, setting a positive tone for the upcoming earnings season. Asset manager BlackRock also delivered robust results.
In other news, shares of Brazilian airline Azul SA soared over 4% after announcing a non-binding agreement to explore a merger with rival Gol, a move that would create Brazil's largest airline operator.
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