The two Indian stock markets - the BSE and the NSE - ended on higher note on Thursday and the trend is expected to continue, experts said.
"Following a widely expected rate hike by the Fed (US Federal Reserve) and consistent foreign support, the domestic equities resumed its bullish momentum, driven by gains across major sectors," said Vinod Nair, Head of Research at Geojit Financial Services.
He said that the US market faced losses as the Fed reiterated concerns over elevated inflation despite softening its language on future rate hikes. Signs of returning contagion fears in regional US banks also weighed on the global market mood.
The Nifty of the NSE rose for the 7th out of the past 8 sessions to close at more than a four month high on May 4. At close, Nifty was up 0.92 per cent or 165.9 points at 18,255.8, said Deepak Jasani, Head, Retail Research, HDFC Securities.
Nifty built on its previous gains well on May 4. It is now headed for 18,319-18,432 band on the upside while 18,148 could provide support on the downside for the near term, he added.
According to Jasani, the Asian stock markets were mostly higher Thursday after the US Fed raised its benchmark lending rate by 25 basis points to cool inflation and said it wasn't sure what may come next.
European stocks dropped at open as investors studied a series of earnings for clues on the state of the economy and prepared for a rates decision from the European Central Bank later Thursday, following the US Fed's latest quarter-point hike, Jasani said.
At the BSE, the Sensex opened at 61,258.13 points, touched a high of 61,797.91 points and a low of 61,119.56 points. The Sensex closed at 61,749.25, gaining 555.25 points over the previous close.
Tripura CM Saha holds key meeting with BJP, IPFT and TMP leaders
Tripura Chief Minister Manik Saha on Friday held an "important" meeting between the leaders of ruling BJP and its two allies – Tipra Motha Party (TMP) and Indigenous People's Front of Tripura (IPFT) and discussed various political and developmental issue, sources said.
HM Amit Shah's meeting sends a clear message: Not a drop of water to Pakistan
A high-level meeting was held on Friday at the residence of Union Home Minister Amit Shah regarding the suspension of the Indus Waters Treaty. The 45-minute meeting between the Home Minister and Union Jal Shakti Minister C.R. Patil focused on exploring ways to halt the flow of water to Pakistan.
Tripura: TMP chief urges Centre to adopt 'stronger policy' against B'desh
Ruling BJP’s ally Tipra Motha Party (TMP) founder-chief Pradyot Bikram Manikya Debbarma on Friday urged the Central government to adopt a stronger policy stance towards Bangladesh, accusing the neighbouring country of encouraging fundamentalist forces targeting Hindu minorities.
Pahalgam attack: More countries express solidarity with India, offer support in fight against terrorism
Ambassadors of Israel, Egypt, Argentina, and Nepal met External Affairs Minister (EAM) S. Jaishankar in New Delhi on Friday, expressing solidarity with India in its fight against terrorism following the heinous terror attack in Pahalgam.
Tripura CM directs SPs and DMs to remain vigilant about Pakistani nationals
Tripura Chief Minister Manik Saha on Friday directed the Superintendents of Police (SPs) of all eight districts to regularly share necessary inputs with the Chief Minister’s Secretariat regarding the presence of any Pakistani nationals in the state, officials said.
US supports India's 'hunt' for those behind 'horrific Islamist terrorist attack' in Pahalgam, says Gabbard
Tulsi Gabbard, Director of National Intelligence (DNI), on Friday said that the United States supports India's "hunt" for the perpetrators of the "horrific Islamist terrorist attack" in Pahalgam that took place earlier this week.
Tehran stands ready to 'forge greater understanding' between India and Pakistan: Iran FM Araghchi
Citing its good relations with both India and Pakistan, Iran on Friday said that it stands ready to "forge greater understanding" between New Delhi and Islamabad following the Pahalgam terror attack, earlier this week.
PM Modi's action will act as deterrent against any fresh attempts to harm India: Tripura CM
Tripura Chief Minister Manik Saha on Friday denounced the Pahalgam terror attack, asserting his staunch belief that Prime Minister Narendra Modi's decisive action will act as a strong deterrent against any future attempts by terrorists to harm India.