MUMBAI: India’s equity benchmark indices Sensex and Nifty displayed resilience, closing higher amid positive movements in the banking, power, and industrial sectors.
The 30-share BSE Sensex concluded the trading day with an increase of 144.31 points, or 0.18 per cent, ultimately settling at 81,611.41. Throughout the day, the index demonstrated significant volatility, peaking at an intra-day high of 82,002.84, showcasing a rise of 535.74 points, or 0.65 per cent.
Similarly, the NSE Nifty experienced a modest gain, rising by 16.50 points, or 0.07 per cent, to finish at 24,998.45. The index also reached a high of 25,134.05 during intra-day trading, reflecting an increase of 152.1 points, or 0.60 per cent.
Despite these gains, market behaviour indicated a range-bound trend with a negative bias, attributed to investor caution in anticipation of forthcoming second-quarter earnings results.
Vinod Nair, Head of Research at Geojit Financial Services, noted that while Asian markets initially opened positively, they struggled to maintain momentum as European markets shifted to a negative trajectory, largely influenced by rising global bond yields and the impending release of key US inflation data.
Gainers
Among the gainers in the Sensex, significant contributions came from prominent companies such as Kotak Mahindra Bank, HDFC Bank, and JSW Steel, while the technology sector faced challenges, with companies like Infosys and Tata Consultancy Services experiencing declines.
In a noteworthy development, shares of several Tata Group companies surged, with gains of up to 15 per cent observed in Tata Investment Corporation, Tata Chemicals, and Tata Teleservices.
The uptick occurred in the wake of the passing of Ratan Tata, the esteemed Chairman Emeritus of Tata Sons, at the age of 86, highlighting the profound impact of his leadership on the conglomerate’s global stature.
As the broader market sentiment remained mixed, reflecting caution regarding Q2 FY25 results amidst subdued global demand, foreign institutional investors (FIIs) recorded a considerable sell-off, disposing of equities worth Rs4,562.71 crore. In contrast, domestic institutional investors (DIIs) demonstrated confidence by purchasing shares valued at Rs3,508.61 crore.
