Sensex gets bullish streak back, gains 334 points in morning trade

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MUMBAI: The domestic equity market continued to rise and make gains on Thursday morning, following strong cues from global markets. The country’s trade deficit of January eased to the lowest in a year at just $17.75 billion, with a concurrent decline in imports.

The critical indices of the domestic market — BSE Sensex went up 335 points to 61,610.20 while Nifty gained 94 points to 18,113.15 — on Thursday morning.

Among the most active stocks that gained on Thursday morning, Tanla shares went up 5.28 per cent, On Mobile surged 6.80 per cent, PI Industries rose 6.88 per cent while Adani Power grew 4.97 per cent. Indigo, Manyavar, Fin Cables, EKI Energy Services and Aavas Financiers were among the laggards on BSE in the morning.

Adani Group firms were trading in the green on Thursday’s opening session. Shares of Adani Enterprises went up by 3.87 per cent to Rs 1,847 apiece while Adani Ports surged 3.13 per cent to Rs 587.20 apiece. Adani Green went up 4.99 per cent to Rs 652 apiece while Adani Transmission rose 4.48 per cent to Rs 1,063 apiece on Thursday morning.

In Asian markets, Hong Kong’s Hang Seng rose 447 points or 2,15 per cent, Japan’s Nikkei surged 221 points or 0.81 per cent, China’s Shanghai gained 25 points or 0.78 per cent while S&P ASX went up 53 points or 0.71 per cent on Thursday morning.

In American markets, Dow Jones went up 38 points or 0.11 per cent, Nasdaq gained 110 points or 0.92 per cent while NYSE lost 9 points or 0.06 per cent on Wednesday’s closing.

In European markets, Amsterdam Exchange, Bel-20, Deutsche Borse and CAC were trading in the green. FTSE 100 gained 43 per cent or 0.55 per cent, Ibex 35 surged 31 pointe or 0.34 per cent while Madrid SE gained 3 points or 0.30 per cent as Asian markets opened on Thursday.

According to the ministry of commerce and industry, India’s merchandise exports fell for the second month in a row this January, with the value of shipments slipping 6.6 per cent to $32.91 billion. However, the trade deficit eased to the lowest in a year at just $17.75 billion.

The Commerce and Industry Ministry also sharply revised the goods trade numbers for December 2022, lifting the export figure by $3.6 billion to $38.07 billion, which indicates a year-on-year contraction of just 3 per cent in that month compared to 12.2 per cent estimated earlier.

India’s overall exports on Wednesday posted a 14.57 per cent increase year-on-year in January 2023 to $65.15 billion, against $56.86 billion on January 2022, the Union Commerce ministry stated in a release.

Further, the overall import has seen a marginal increase of 0.94 per cent to $66.42 billion in January 2023, against $65.80 billion in January 2022.

During April-January 2022-23, overall export grew 17.33 per cent to $641.24, against $546.55 billion in April-Jan 2021-22.

Shares of Bharat Dynamics surged over 2.5 per cent on Thursday morning. The defence firm launched three product launches at the Aero India show yesterday. (ANI)

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