Share Market News Today, October 14: The benchmark equity indices on the BSE and National Stock Exchange (NSE) opened over 1.5 per cent higher on Friday tracking positive cues in the global market.
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At 9:18 am, the S&P BSE Sensex was trading 1,045.53 points (1.83 per cent) higher at 58,280.86, while the Nifty 50 was up 299.35 points (1.76 per cent) at 17,313.70.
All the Sensex constituents were trading in the green with Infosys, ICICI Bank, HCL Technologies, Larsen & Toubro (L&T), State Bank of India (SBI) and Axis Bank leading the pack in early deals.
Global Market (from Reuters)
Asian shares tracked Wall Street higher on Friday, although gains could quickly unwind as investors grapple with the reality that surging US inflation will likely lead to higher interest rates for longer, hastening a global recession.
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MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.6 per cent in early Asia trade. Australia’s resources-heavy share index gained 1.6 per cent, South Korea advanced 2.1 per cent, while Japan’s Nikkei jumped 2.8 per cent. Chinese bluechips also opened 0.8 per cent higher, as the central bank chief promised stronger support to the real economy as COVID lockdowns spread ahead of the all-important Communist Party Congress.
Wall Street had a volatile session, after initial sell-off on the data proved short-lived with technical support and short-position covering helping stocks stage a strong rebound. The Dow Jones Industrial Average rose 2.83 per cent, the S&P 500 gained 2.60 per cent and the Nasdaq Composite added 2.23 per cent.
