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Live: Will nifty extend gains and reclaim 25,000? Banks in focus| GST Meet outcome| Opening Bell

Indian markets rebounded from a three-day slump, driven by gains in consumer staples and banking shares. The NSE Nifty 50 Index edged up 0.34% to 24,936.40, while the BSE Sensex rose 0.46% to 81,559.54. Consumer staples and banks saw a boost as investors shifted focus to these underperforming sectors. The Nifty FMCG index hit a record with a 2% increase, and the Nifty Bank gauge rose 1.1%. This morning global cues are supportive with Wall Street staging a good rebound ahead of US inflation data and Asian markets largely in the positive zone. The GIFT Nifty is hinting at a positive start this morning. Among stocks in focus, watch out for pharma shares as GST panel cuts rates on cancer drugs cut to 5% from 12%. Prataap Snacks, Bikaji and Gopal Snacks will be in focus as rates on namkeen have been slashed to 12% from 18%. Meanwhile, PN Gadgil Jewellers IPO opens today, should you subscribe? Catch Nandita Khemka in conversation with Ruchit Jain, Lead Research Analyst at 5Paisa and Market expert Anshul Saigal.

first published: Sep 10, 2024 02:25 pm