The Indian stock markets opened higher on Thursday, August 24, 2023, tracking gains in global equities. The Sensex was trading 293 points higher at 54,257, while the Nifty was up 82 points at 16,235.
Investors were awaiting the minutes of the US Federal Reserve’s latest meeting for clues on the future course of monetary policy. The Fed is widely expected to raise interest rates in September, but the pace of future hikes is uncertain.
Among individual stocks, Bharti Airtel was the top gainer, rising 3.5%. Tata Steel, Infosys, and HDFC Bank were also among the gainers.
On the other hand, Dr Reddy’s Laboratories, ITC, and NTPC were among the losers.
The broader markets were also in the green. The BSE Midcap and Smallcap indices were up 1.5% and 2%, respectively.
The rupee was trading at 75.45 against the US dollar.
Here are some of the top business news headlines from today:
- India’s trade deficit widens to $25.6 billion in July
- RBI cuts repo rate by 25 basis points to 4.0%
- Government approves PLI scheme for white goods sector
- Coal India raises coal production by 24% in July
- Tata Motors launches new electric SUV, Nexon EV Max
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