Market Update: Indices rise on positive global cues

24 Apr 2024 , 01:24 PM

Indian benchmark indices were in positive territory on Wednesday, buoyed by global markets’ upward momentum driven by easing geopolitical tensions. At the time of writing, Sensex rose by 287.30 points or 0.39%, trading at ₹74,025, while Nifty climbed by 83.70 points or 0.74%, reaching ₹22,451.

Market breadth favoured gainers, with approximately 2,422 shares advancing, 1,201 shares declining, and 150 shares remaining unchanged. 

Except for the IT and PSU Bank indices, all other sector indices showed gains. The metal index recorded the highest increase, rising by 2.08%, followed by the healthcare index, which gained 1.06%. In the broader market, the BSE SmallCap index surged by 0.94%, and the BSE MidCap index by 0.79%.

Among the Nifty 50 stocks, 11 were in the red, with Cipla, JSW Steel, Hindalco, Bajaj Finance, and Tata Steel leading the gains, while Tata Consumer Products, Hindustan Unilever, Infosys, HDFC Life, and TCS were the top losers.

On the BSE Sensex, nine of the thirty stocks were in negative territory, with Infosys, Hindustan Unilever, TCS, Tech Mahindra, and Bharti Airtel witnessing the most significant declines. JSW Steel, Tata Steel, Power Grid Corp., Bajaj Finserv, and Kotak Mahindra were the top gainers.

According to provisional data from the NSE, Foreign Institutional Investors (FIIs) sold shares worth ₹3,044.54 Crore, while Domestic Institutional Investors (DIIs) bought shares worth ₹2,918.94 Crore on April 23.

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