In a strong start to the stock market, the Sensex opened with a rally of 190.47 points

Equities: Domestic equity markets opened strongly on Wednesday 4 December 2024 on expectations of a positive trend globally and interest rate cuts at the Reserve Bank of India's (RBI) monetary policy meeting. In early trade, the Mumbai Stock Exchange (BSE) Sensex rose 190.47 points to 81,036.22. The Nifty of the National Stock Exchange (NSE) also opened 31.60 points higher at 24,488.75 points. On Tuesday, the BSE Sensex closed up 597.67 points, or 0.74%, at 80,845.75, while the Nifty gained 166.00 points, or 0.68%, at 24,442.05. Chances of rate cut at MPC meeting unlikely The three-day meeting of RBI's Monetary Policy Committee (MPC) for the bi-monthly monetary review will begin on Wednesday, December 4, 2024. RBI Governor Shaktikanta Das will give his reaction on interest rate and inflation data on Friday, December 6, 2024. Given the rising inflation in the country, the RBI is expected to hike the repo rate to 6.5% in December. However, there is also a possibility that the central bank may consider cutting interest rates in February 2025. In the early trade of the stock market, out of 30 companies listed on BSE Sensex, 22 stocks were in profit while 8 stocks were in losses. Of NSE's 2443 shares, 1811 are trading in green tick, 577 in red tick, while 55 stocks are unchanged. TCS shares gained 1.67% to close at Rs 4373.35 on BSE. Shares of HDFC Life Insurance rose 2.10% to trade at Rs 647.30 on the NSE. Also Read: Money Laundering Case, PMLA Court's Order In other Asian markets, Japan's Nikkei 225, South Korea's Cospi and China's Shanghai Composite remain soft. Hong Kong's Hong Kong is trading with profit. European and US markets closed higher on Tuesday. In the global oil market, Brent crude rose 0.16% to $73.77 a barrel. Also Read: Sukhbir Singh Badal Attack Video: Sukhbir Singh Badal Terror Attack, Firing The post Stock market starts strong, Sensex opens with 190.47 points gain appeared first on Prabhat Khabar.