On Thursday, the stock markets showed a bullish trend, with both the Sensex and Nifty recording significant gains.
Sensex surged ahead by 286.38 points to reach 65,707.71, while Nifty marked an ascent of 85.30 points at 19,530.30 at the time of market opening.
In the Nifty segment, 47 firms witnessed advances, while only 4 recorded declines, with none remaining unchanged.
This buoyant market performance was underpinned by notable gains from key players, including Adani Enterprises, Adani Ports, Larsen & Toubro, Wipro, and Tech Mahindra, emerging as the top gainers.
On the flip side, Jio Financial Services, NTPC, and Eicher Motors were among the top losers.
Investors are awaiting clarity on the interest rate outlook. This anticipation is tied to a speech by Federal Reserve Chair Jerome Powell, scheduled for Friday, August 25.
The decisions and statements made by central banks, like the Federal Reserve, can significantly impact the broader financial markets.
The Nifty opened positively, as expected, thanks to the upbeat results from US tech companies that set a positive tone, said Varun Aggarwal, the founder and Managing Director of Profit Idea. This momentum is expected to continue. We might observe bullish-biased market consolidation given today’s weekly expiry.