Sensex, Nifty climb in early trade on global markets rally

FIIs offloaded equities worth ₹5,462.52 crore on Thursday (January 23, 2025), according to exchange data File
| Photo Credit: Reuters

Stock market benchmark indices Sensex and Nifty climbed in early trade on Friday (January 24, 2025), tracking a firm trend in global markets.

The 30-share BSE benchmark Sensex climbed 282.35 points to 76,802.73 in early trade. The NSE Nifty went up by 86.7 points to 23,292.05.

From the 30-share blue-chip pack, Power Grid, UltraTech Cement, NTPC, Tata Steel, Asian Paints and Axis Bank were the major gainers.

Tata Motors, Sun Pharma, Zomato and Kotak Mahindra Bank were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory.

U.S. markets ended higher on Thursday (January 23, 2025).

U.S. President Donald Trump on Thursday (January 23, 2025) addressed the World Economic Forum where he offered business leaders low taxes if they manufacture their products in the U.S. while threatening them with tariffs if they don’t.

Addressing the forum’s Annual Meeting here through video conferencing, Mr. Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately.

“Throughout the world, food prices went through the roof,” he said, and he took immediate action to control inflation in America.

“I promise to eliminate 10 old regulations for every new regulation… I am going to pass the largest tax cuts in American history to help our people,” he said.

“The strength of the U.S. market with S&P 500 setting yet another record high and the 10-year U.S. bond yield remaining strong around 4.65% will continue to weigh on the Indian market,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,462.52 crore on Thursday (January 23, 2025), according to exchange data.

Global oil benchmark Brent crude dipped 0.19% to $78.14 a barrel.

The BSE benchmark index Sensex rose 115.39 points or 0.15% to settle at 76,520.38 on Thursday (January 23, 2025). The Nifty went up by 50 points or 0.22% to end at 23,205.35.