Nifty hits record high after 14 months; Sensex nears all-time peak
Mumbai (PTI): Stock market benchmark indices extended their previous day's rally in early trade on Thursday, with the Nifty hitting its fresh record high amid favourable global trends on growing hopes of a US Fed rate cut and foreign fund inflows.
The 30-share BSE Sensex advanced 313.38 points to 85,922.89 in early trade. The 50-share NSE Nifty rallied 90.25 points to hit an all-time high of 26,295.55. The broader index had earlier scaled its record intra-day high of 26,277 on September 27, 2024.
From the Sensex firms, Bajaj Finance, Bajaj Finserv, ICICI Bank, Larsen & Toubro, Asian Paints and Mahindra & Mahindra were among the biggest gainers.
However, Eternal, Kotak Mahindra Bank, UltraTech Cement and Maruti were among the laggards.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading in positive territory.
US markets ended higher on Wednesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,778.03 crore on Wednesday, according to exchange data. Domestic Institutional Investors (DIIs) also purchased stocks worth Rs 6,247.93 crore in the previous trade.
"Expectation of a rate cut by the Fed and a possible Russia-Ukraine peace accord have improved sentiments for equity markets globally," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
Brent crude, the global oil benchmark, dipped 0.48 per cent to USD 62.83 per barrel.
"Global equity markets have extended their gains, buoyed by growing expectations of interest-rate cuts by the US Federal Reserve. Major US indices — including the S&P 500, Dow Jones, and Nasdaq — posted another session of solid advances as softer Treasury yields and renewed policy optimism strengthened risk appetite. This upbeat sentiment has carried into today’s global trade, with Asian markets opening higher," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
On Wednesday, the Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. The Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Brazil's Ancelotti raises doubts about whether Neymar will reach the 2026 World Cup
Sao Paulo (AP): Brazil coach Carlo Ancelotti raised doubts about whether Neymar will be in his squad for the 2026 World Cup. The Italian has yet to pick the former captain since he took over in May.
“If Neymar deserves to be (in the squad), if he is, well, better than others, he will play in the World Cup and that's it. (But) I don't have debts to anyone,” Ancelotti said at a press conference in Washington on Friday following the draw.
Brazil is in Group C with Morocco, Haiti and Scotland.
“If we speak about Neymar, we have to speak about other players,” Ancelotti added. “We have to think about Brazil with or without Neymar, with or without other players. Our final list we will make after the FIFA fixtures in March.”
The 33-year-old Neymar has never fully recovered from a torn ACL in October 2023 during a World Cup qualifier against Uruguay. But he's been key for Santos in its fight to avoid relegation in the Brazilian championship.
On Wednesday, he scored a hat trick for Santos despite a muscular injury. He is expected to play again on Sunday against Cruzeiro.
Ancelotti said Brazil does not have a “referential player” at the moment, a tag for the most valuable player that Neymar has mainly worn since the 2014 home World Cup.
“We have one of the world's best goalkeepers, some of the best defenders, top midfielders and some players up front. I don't want players who want to be the best in the world, I want players who want to win the World Cup,” Ancelotti said.
Asked about his team's group, Ancelotti said Brazil can top it.
“We can win all three matches, our idea is very clear. We need to be competitive during the entire World Cup. Our goal is to play in the final and for that to happen you need to face very strong teams anyway.”
Brazil won the last of its five World Cup trophies in 2002.
_vb_69.jpeg)
