Ira Singh 
The domestic share market indices Sensex and Nifty traded higher on Thursday, taking cues from gains across Asia as expectations for further U.S. rate cuts strengthened, fueling hopes of increased foreign investments into emerging economies. At close, the Sensex was up 144.31 points or 0.18 percent at 81,611.41, and the Nifty was up 16.50 points or 0.07 percent at 24,998.45. About 2152 shares advanced, 1585 shares declined, and 119 shares unchanged.
Kotak Mahindra Bank, HDFC Bank, Bharat Electronics, Maruti Suzuki and Power Grid Corp were the top gainers on the Nifty, while losers included Cipla, Trent, Tech Mahindra, Sun Pharma and Hero MotoCorp.
On the sectoral front, IT index down 1 percent, pharma index down 2 percent and realty index shed 0.4 percent, while bank index up 1 percent, power index was up 0.7 percent and metals index added 0.3 percent.The BSE midcap index was down 0.3 percent, while smallcap index was up 0.4 percent.
Rupee Close:
On 10 Oct'24,the Indian rupee ended nearly flat on Thursday after oscillating in a tight band, as likely intervention by the Reserve Bank of India helped the unit withstand pressure from foreign banks' dollar bids and weakness in Asian currencies ahead of the U.S. inflation data.The rupee closed at 83.9675 against the U.S. dollar, almost unchanged from its close at 83.9625 in the previous session. The currency hovered in a 2 paisa band during the session, according to information.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying the market traded on a range bound trend with a negative bias ahead of the start of Q2 result. The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key US inflation data, global bond yields are rising. Domestic broader market momentum was mixed with caution as the initial expectation of Q2FY25 results is subdued due to a subpar momentum in the global and rural demand. Market experts have recommended five stocks to buy- Prestige Estates Projects, Marksans Pharma, NMDC, JSW Steel and Ashok Leyland.
(Business Corresspondent)
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