Stock Market India: Sensex rallies over 200 pointsIndian equity benchmarks opened with significant gains on Friday, extending gains for the second straight session, despite mixed indications from global markets, keeping investors conflicted between poor earnings reports and rising anticipation of slower rate hikes from major central banks.The BSE Sensex index rallied 261.95 points to 60,018.79 in early trade, and the NSE Nifty index opened in the green.In broader Asia, though, equities edged lower as investors balanced mixed corporate releases and economic data, driving a likely shift in central banks’ policymaking.The largest Asia-Pacific share index outside of Japan, according to MSCI, was down over 0.3 per cent and on track to end a three-day winning streak. For the month and the year, the index is down almost 3 per cent and 30 per cent, respectively.As a result of Amazon.com Inc.’s after-hours decline and lower-than-expected sales forecast, US equity contracts declined. Following a turbulent day, shares of Apple Inc. increased modestly in after-hours trading.But central banks shifting from their aggressive policy has kept traders in a ‘buy risk assets’ mode.Policymakers’ rhetoric lately “also supports our forecast that the Fed slows the hiking pace to 50 basis points in December, after another 75 basis-point hikes in November,” a team of Goldman Sachs’ economists, including Daan Struyven, wrote in a note, according to Bloomberg.
Source link
Strange India 