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Market Update: The SENSEX Index increased 0.75%
The BSE SENSEX rose 256 points or 0.5% to a 3-1/2-month high of 52,100 in early deals on Thursday after US stocks hovered near record highs on Wednesday as traders await key economic data and continue to weigh economic optimism and concerns over higher inflation. Traders shrugged off reports that factory activity in India shrank for the first time in eight months in May, amid a harsh resurgence of a pandemic. New Delhi announced on Thursday 134,154 new COVID-19 infections over the past 24 hours, pushing the total tally to 28.4 million. Meantime, the federal government said today that it had inked a deal with domestic vaccine maker Biological-E for 300 million virus vaccine doses for INR 15 billion, the first such order for unapproved shots and likely to be available in the next few months. Investors now await a weekly US jobless report and May private payrolls data on Thursday and monthly jobs numbers Friday. Titan Company Ltd jumped 5.8% Meantime, Kotak Mahindra Bank Ltd surged 2.1%. [/s2If]
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