Stock market today: Domestic blue-chip indices Sensex and Nifty began the session by scaling fresh peaks tracking a rally in the global markets, after the US Fed kept the interest rates unchanged, however, hinted at rate cuts in September. Nifty surpassed 25,000 level for the first time. Last seen, Sensex was up198.2 points or 0.24 per cent at 81,939.54 and Nifty rose 77.85 points or 0.31 per cent at 25,029.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"The Fed chief signalling a possible rate cut in September is positive for global equity markets. More important, his comments that the US economy is normalising are a shot in the arm for bulls. The dip in the 10-year US bond yield to 4.05 is sharp and this may halt and perhaps even reverse the FII selling in the cash market in recent days. If both FIIs and DIIs turn buyers the market can spurt today but sustaining the rally would be difficult since valuations are getting stretched," said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Dr. V K Vijayakumar added a serious geopolitical risk is the escalation of tensions in West Asia following the killing of the top Hamas leader in Iran. The risk of a regional aggravation of the Gaza war is high.

Further, as per him, among the early Q1 results the cyclical upturn in automobiles looks impressive and likely to sustain.

In the broader market, Nifty Midcap 100 and Smallcap 100 traded in the green. Last seen, high-beta Nifty Bank was up 0.54 per cent at 51,832.85.

BUZZING STOCKS

Tata Steel shares were up over 1 per cent after the company reported strong Q1 results.

Coal India shares were up over 2 per cent after the company posted strong Q1 results. 

GE T&D India shares hit 5 per cent upper circuit after the company posted good Q1 results.

Aster DM Healthcare shares were up over 3 per cent after the company posted good Q1 numbers. 

Conversely, IIFL Securities shares were down over 3 per cent despite the company reporting mixed Q1 numbers.

For all other news related to business, politics, tech and auto, visit Zeebiz.com.

DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.