HDFC Bank, RIL drive Sensex 200 pts higher; Nifty above 22,400
The BSE Sensex was trading 209 points or 0.28% higher at 73,935, while the Nifty50 was up 52 points or 0.23% at 22,420 around 9:17 am.
Following the positive trend in global markets, benchmark equity indices opened higher for the fourth consecutive session on Wednesday, led by index heavyweights and .The BSE was trading 209 points or 0.28% higher at 73,935, while the Nifty50 was up 52 points or 0.23% at 22,420 around 9:17 am.
HDFC Bank, , Reliance Industries, , and led the gains on the Sensex in early trade. However, , , , and exerted downward pressure on the index.
Tata Consumer shares fell over 4% after the company reported a 19% YoY fall in its consolidated net profit to Rs 217 crore for the quarter ended March 2024.
shares also plunged over 5% in early trade after the company reported smaller-than-expected fourth-quarter profit as discretionary spending remains low, and weak demand in media and communications vertical weigh.
Sector-wise, Realty rose 1.3%, led by Lodha and Phoenix Mills. Nifty Metal, Auto, Bank, Pharma, Healthcare, and Oil & Gas also opened higher. In the broader market, Nifty Midcap100 and Smallcap100 rose over 0.6% each.
Nifty 50 constituents Hindustan Unilever, LTIMindtree, Axis Bank will report results on Wednesday, while Bajaj Finance and Maruti Suzuki are among the top companies that will post earnings this week.
MORE TO COME...
Source: Stocks-Markets-Economic Times
