Equity benchmark indices Sensex and Nifty extended their gains for the fourth consecutive session on Wednesday, buoyed by buying interest in metal and commodity stocks amidst a positive global equities trend. Despite facing selling pressure in telecom, IT, and tech counters, both indices managed to close higher.
The BSE Sensex rose by 114.49 points or 0.16%, settling at 73,852.94, after touching an intraday high of 74,121.61, up by 383.16 points or 0.51%. Similarly, the NSE Nifty gained 34.40 points or 0.15% to reach 22,402.40.
Market analysts noted that while Indian markets trailed behind their Asian counterparts due to subdued Q4 earnings, the composite PMI hitting a multi-year high indicated domestic resilience. Globally, investor sentiment improved as tensions in the Middle East eased and oil prices declined.
India's economic activity continued to expand in April, with the HSBC flash India Composite PMI rising to 62.2, driven by strong performance in the services and manufacturing sectors.
This story is from the April 25, 2024 edition of The Business Guardian.
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This story is from the April 25, 2024 edition of The Business Guardian.
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