Indian Stock Markets Rise Following Asian Market Rally

On Thursday, Indian stock markets opened with gains, following a positive trend in Asian markets. The Nifty 50 index started at 24,396.55, gaining 67 points, while the BSE Sensex opened at 80,170, up by 230 points.

Market Performance

All indices on the NSE began trading positively, with Nifty Small Cap and Nifty Microcap leading the gains. However, Nifty FMCG, Nifty Pharma, and Nifty Healthcare did not register gains.

Expert Opinion

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the importance of the ‘buy on dips’ strategy in the current bull market. He also cautioned investors to be prepared for unexpected corrections.

Upcoming Earnings Announcements

Major IT companies in India, including Tata Consultancy Services (TCS), are set to announce their Q1 2024 financial results this week. TCS previously reported a 9% rise in net profit for Q4 FY24.

Global Market Trends

Asian markets saw gains, with Japan’s Nikkei Index, Hong Kong’s Hang Seng, and Taiwan’s Taiwan Weighted Index all rising. In global markets, WTI and Brent crude oil prices increased, and the US Dollar Index saw a slight rise. The Nasdaq, S&P 500, and Dow Jones Industrial Average also achieved record highs on Wednesday.