share market Sensex, Nifty rise top stocks in focus

By | February 9, 2022

Nifty 50 index was up 0.84 per cent at 17,411.95, while the S&P BSE Sensex gained 0.83 per cent to 58,290.65.

Share market

Share market.

The Sensex and Nifty rose on Wednesday, lifted by technology stocks following an overnight rally on Wall Street, while investors looked forward to the Reserve Bank of India’s monetary policy decision due on Thursday.

The blue-chip NSE Nifty 50 index was up 0.84 per cent at 17,411.95, while the S&P BSE Sensex gained 0.83 per cent to 58,290.65.

On Thursday, India’s central bank is expected to hold its repo rate steady, but increase its reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic.

Asian peers also rose as technology stocks tracked Wall Street higher, ahead of a key inflation reading this week.

The Nifty IT index climbed 1.5 per cent in early trade on Wednesday.

Steel producer Jindal Steel and Power dropped 5 per cent after reporting profit below expectations. Gains in National Aluminum and Hindustan Copper still propped the Nifty Metal index up 1.1 per cent.

Edible oil refiner Adani Wilmar extended its listing gains on Wednesday, rising nearly 8 per cent.

Transmission company Power Grid Corp was up 0.8 per cent ahead of its quarterly results.

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