Financials lead rise in India's benchmark indexes

HDFC Life Insurance

16/01/2025 06:39

** India's NSE Nifty 50  .NSEI  and BSE Sensex  .BSESN  rise
about 0.4% each, led by financials and tracking Asian peers as
US inflation relief boosts rate cut bets
    ** 10 of 13 major sectors gain; high-weightage financials
 .NIFTYFIN  rise 1.1% and state-owned banks  .NIFTYPSU  add 2.7%
    ** HDFC Life Insurance  HDFL.NS  climbs about 9%, most on
Nifty 50 and financials, on posting a higher quarterly profit as
it sold more policies
    ** Punjab & Sind Bank  PUNA.NS  jumps 7.5% after posting a
147% jump in Q3 profit
    ** Asian stocks  .MIAPJ0000PUS  up 1.2% as US core inflation
rises less than expected, boosting chances of more Fed rate cuts
    ** "Easing core inflation in U.S. could allow a more
accommodative Fed stance, cheering emerging market equities,"
says Dhawal Ghanshyam Dhanani, fund manager at SAMCO Mutual Fund
    ** Smallcaps  .NIFSMCP100  and midcaps  .NIFMDCP100  rise
1.5% and 1.1%, respectively
    ** Analysts say their outperformance over the benchmarks is
due to a technical rebound after their recent decline

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))