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.
Vigil strengthened to curb illegal infiltration, human trafficking from B’desh: CM Saha
Tripura Chief Minister Manik Saha on Tuesday said that the state government has taken a series of steps to prevent illegal infiltration from Bangladesh, and the BSF as well as the state forces are on a strict vigil round-the-clock.
70 people convicted in 52 NDPS Act cases in Tripura: CM Saha
Tripura Chief Minister Manik Saha on Tuesday said that the state police have registered 52 cases and 70 people were convicted in the last three years under the Narcotics Drugs and Psychotropic Substances (NDPS) Act 1985.
NFR achieved key milestones in infrastructure expansion in 2024-25: Officials
Northeast Frontier Railway (NFR), which operates in the northeastern states and in seven districts of West Bengal and five districts of north Bihar, successfully completed and commissioned 1,141.388 Route Kilometers (RKM) of electrification in 2024-25,
Govt targets to make Tripura self-reliant in fish production: Minister Sudhangshu Das
The state fishery minister Sudhangshu Das on Tuesday said that the government has targeted to make the state self-reliant in fish production and accordingly the government has taken multifaceted initiative to boost fish production in the state.
Tourism to bring alternative economy for Tripura: Sushanta in Assembly
The state tourism minister Sushanta Chowdhury on Tuesday said that the tourism sector in the state will be the backbone of the alternative economy in the coming days. Economic and social development of the local people will be achieved through this industry, he added.
Rs. 24.46 Cr provides as aid to flood-affected farmers: Ratan
In response to an unstarred question by MLA Sudeep Sarkar, Agriculture Minister Ratan Lal Nath revealed comprehensive details about the arrangements made by the Farmers Welfare Department to assist flood-affected farmers in the state.
Infra development of Rs 1000 Crore for rural schools underway: CM
Chief Minister Prof. Dr. Manik Saha today informed that for the development of educational infrastructure in rural areas, works amounting to approximately Rs 1000 crore are underway under various schemes.
5,520 drug users receive treatment, 612 recovers: Chief Minister
Chief Minister Prof. Dr. Manik Saha today informed that as of January 2025, a total of 5,520 injection drug users have received services from Opioid Substitution Therapy (OST) centers. Of these, 612 have completed treatment and returned to the mainstream of healthy, normal lives.