Market wrap: HDFC Life, Power Grid, HCL Tech, Hindalco top gainers and losers on Nifty and Sensex on Thursday

Indian equities closed marginally higher on September 10, defying the odds of a weak global market. The Nifty 50 index ended the day up 0.20% at 17,951.50, while the Sensex 30 index rose 0.19% to 59,342.10. Despite Brent crude oil prices nearing $102 a barrel, the market remained resilient, with investors seemingly undeterred by the prospect of a potential economic slowdown. Technical analysts, however, have flagged 23,600 as a crucial resistance point, amid persistent market pressure. The recent order for a new aircraft by Power Grid Corp has led to a significant boost in the market cap of the company, adding $1 billion to its valuation. Notably, banks have received a massive influx of funds, with investors eagerly awaiting the next move. On the flip side, the Indian economy is grappling with an old habit of ignoring market cues, only to wait for the stick of market pressure to act. Furthermore, the recent change in accounting policy has sparked debate among experts, with some arguing that a simple AI prompt can provide valuable insights. Meanwhile, concerns are growing about the impact of crude oil prices on the economy, with some analysts warning that it may become a financial problem. The market's performance on Thursday suggests that investors are prioritizing growth over concerns about inflation and economic slowdown.