Nifty Close Higher as Investors Eye US Inflation Data

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Nifty Close Higher as Investors Eye US Inflation Data

By Aditya Raghunath

Investing.com -- Do Indian markets know something that US markets don’t? Nifty 50 and the BSE Sensex 30 fell as they awaited inflation data from the US on Thursday for the last two days. However, today Nifty closed up 0.65% and the Sensex gained 0.69% to close out the day.

Banks and financial stocks led the charge on markets today. Bajaj Finance Ltd (NS: BJFN ) gained 7.67% while Bajaj Finserv Ltd (NS: BJFS ) closed up 3.82%. State Bank Of India (NS: SBI ) gained 2.6% while IndusInd Bank Ltd. (NS: INBK ) was up 2.15%. Nifty Bank closed up 0.95%. It seems like gradual unlocking of the states, and indications of a return to economic activity are driving the markets.

Bajaj Auto Ltd (NS: BAJA ) and Eicher Motors Ltd. (NS: EICH ) led the losers list on the Nifty ending down 0.96% and 0.73% respectively. Earlier in the day, the Federation of Automobile Dealers Associations (FADA) had released data saying that retail auto sales in May fell by 56%.

Asian markets ended up today with Nikkei 225 , KOSPI 50 and the Shanghai Composite closing up 0.34%, 0.26% and 0.54% respectively.

US stocks are largely unchanged Thursday, continuing the week’s listless trading with investors cautiously awaiting key US inflation data later in the session. US futures are trading mixed with Dow Jones 30 Futures and S&P 500 Futures up 0.23% and 0.06% while Nasdaq 100 Futures are down 0.28%.

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