December 3, 2022

Market and Financial News

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Sensex, Nifty Jump Around 2% On Global Cues

2 min read

Indian shares opened on an upbeat note Tuesday, tracking firm cues from global markets as British officials abandoned a tax cut plan and new data showed U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years, boosting hopes that the Fed will ease the force of its tightening.

The benchmark S&P BSE Sensex jumped 1,101 points, or 1.9 percent, to 57,889 in early trade, while the broader NSE Nifty index was up 332 points, or 2 percent, at 17,220.

Among the top gainers, JSW Steel, Larsen & Toubro, Bajaj Finance, Hindalco and IndusInd Bank surged 3-4 percent.

Wipro, Infosys and Tech Mahindra climbed 1-2 percent on reports that they have revoked offer letters given to freshers still waiting for their onboarding process to start.

TCS gained nearly 2 percent on news it has created two new business units dedicated to telecom and 5G solutions led by industry veterans.

Zee Entertainment Enterprises jumped more than 2 percent on reports that it may exit the Marathi entertainment space in a bid to allay concerns raised by the Competition Commission of India (CCI).

Maruti Suzuki added 2 percent after it reported an over two-fold rise in its vehicle production for September.

Tata Steel surged 2.4 percent on news it has commenced operations at its Neelachal Ispat Nigam plant in Orissa.

Kirloskar Electric Company soared 5 percent after it agreed to sell 1.27 lakh square meters land in Karnataka for Rs 95.1 crore.

NCC rallied 2.3 percent and KEC International advanced 2.7 percent on winning new orders.

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2022-10-04 00:09:30

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