Crime Today News
Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Wednesday following buying in banking stocks and fresh foreign fund inflows, as retail inflation slipped to near six-year lows raised hopes of further rate cuts.
Defying a weak global market trend, the 30-share BSE Sensex climbed 309.40 points or 0.40 per cent to settle at a two-week high of 77,044.29 in a volatile session. After a weak start, the index moved between gains and losses during the session. It hit a high of 77,110.23 and a low of 76,543.77, gyrating 566.46 points.
The NSE Nifty rallied 108.65 points or 0.47 per cent to 23,437.20.
Positive macro data and forecast of a normal monsoon boosted investor sentiment, analysts said.
IndusInd Bank rose the most by 7.12 per cent among Sensex shares. The bank said external agency PwC has assessed a negative impact of ₹1,979 crore on the bank’s networth due to accounting lapses in the derivatives portfolio.
Axis Bank jumped 4.26 per cent, while Adani Ports rose by 1.81 per cent. Asian Paints, HDFC Bank, Bharti Airtel, State Bank of India and ITC were among the gainers.
Maruti was the biggest loser, falling by 1.51 per cent. Infosys, Tata Motors, Larsen & Toubro, NTPC and Bajaj Finance were among the laggards.
Foreign Institutional Investors (FIIs) turned buyers after days of selling as they bought equities worth ₹6,065.78 crore on Tuesday, according to exchange data.
“Globally, markets are undergoing fresh consolidation as tariff tensions intensify… Amidst global weakness, the Indian market exhibited mild positive sentiment in anticipation that the trade fight between the US and China will not harm but benefit India, and March’s CPI inflation, which is at a nearly 6-year low, is indicative of further rate cuts in the near future,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
Domestically, the Q4 FY25 earnings season has started on a weak note. Overall expectations remain subdued, suggesting potential profit-booking at higher levels, Nair added.
The BSE smallcap gauge climbed 0.91 per cent and the midcap index rallied 0.62 per cent.
Among BSE sectoral indices, oil & gas climbed the most by 1.78 per cent, followed by bankex (1.45 per cent), energy (1.25 per cent), telecommunication (1.08 per cent), financial services (1.07 per cent) and services (0.73 per cent).
IT, auto, capital goods and BSE Focused IT were the laggards.
As many as 2,636 stocks advanced, while 1,309 declined and 133 remained unchanged on the BSE.
“Participants responded positively to favourable cues, including the update on a normal monsoon, further easing of retail inflation, and, importantly, the absence of any negative surprises from global markets. Notably, the sustained strength in banking and financial stocks, along with rotational buying in other sectoral heavyweights, played a significant role in driving the momentum,” Ajit Mishra – SVP, Research, Religare Broking Ltd said.
In the borader market, shares of Gensol Engineering tumbled 5 per cent to hit the lower circuit limit after SEBI barred the firm and its promoters — Anmol Singh Jaggi and Puneet Singh Jaggi — from the securities markets till further orders in a fund diversion and governance lapses case.
In Asian markets, South Korea’s Kospi index, Tokyo’s Nikkei 225 and Hong Kong’s Hang Seng settled lower. Shanghai SSE Composite index ended higher. European markets were quoting lower. US markets ended in negative territory on Tuesday.
Global oil benchmark Brent crude jumped 0.91 per cent to USD 65.22 a barrel.
Rallying for the second straight session on Tuesday, the Sensex jumped 1,577.63 points or 2.10 per cent to settle at 76,734.89. The Nifty surged 500 points or 2.19 per cent to 23,328.55.
Published on April 16, 2025
📰 Crime Today News is proudly sponsored by DRYFRUIT & CO – A Brand by eFabby Global LLC
Design & Developed by Yes Mom Hosting
