Indian shares inch higher in see-saw session

GMR Power and Urban Infra

24/09/2024 09:38

** India's Nifty 50  .NSEI  and Sensex  .BSESN  inch higher
in choppy session
    ** Both indexes hit record highs earlier in the day
        ** Benchmarks have touched fresh highs for four straight
days since the Fed cut rates, boosting expectations of an
increase in foreign inflows to India
  
    ** Gains in Nifty also buoyed by rise in metal stocks after
China unveils new stimulus measures to spur sluggish economic
growth, analysts say
    ** Slow Chinese economy results in dumping of metals and
other commodity products in global markets, including India,
which adversely impacts the domestic industry
    ** Metal sub-index  .NIFTYMET  up 2.3%; Tata Steel
 TISC.NS , Hindalco  HALC.NS , Coal India  COAL.NS  and JSW
Steel  JSTL.NS  up between 1% and 4%
    ** Seven of 13 major sectoral indexes showed gains 
    ** Domestically-focussed mid-cap  .NIFMDCP100  rise 0.21%,
while the small-cap index  .NIFSMCP100  drops 0.31%
    ** Consumer goods sub-index  .NIFTYFMCG  is top pct loser,
down 0.5%

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))