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Indian benchmark indices Sensex and Nifty staged a sharp recovery on Wednesday, supported by gains in IT stocks
Stock Market Today
Sensex Today: The NSE Nifty 50 reclaimed the 25,000 mark on Tuesday after nearly a month, extending its winning streak to five sessions. The index, which last closed above the milestone on July 24, ended 70 points, or 0.3 per cent, higher at 25,050, after hitting an intra-day high of 25,089. With this, the Nifty has added 563 points over the past five trading days.
The BSE Sensex also advanced, touching a high of 81,986 before settling at 81,858, up 213 points, or 0.3 per cent.
IT shares powered the rally, with Infosys jumping nearly 4 per cent to Rs 1,495, contributing 165 points to the Sensex. TCS, Tech Mahindra, and HCLTech gained between 1–3 per cent, as analysts pointed to value-buying after months of underperformance.
Among other major gainers on the Sensex were Hindustan Unilever, NTPC, Tata Steel, Bharti Airtel, Eternal, and Mahindra & Mahindra. On the downside, Bharat Electronics slipped 2 per cent, while Bajaj Finance and Tata Motors fell over 1 per cent each.
Global Cues
Asian markets were under pressure, with Japan’s Nikkei 225 slipping 1.52% and South Korea’s Kospi down 1.72%, as investors digested Japan’s trade data and awaited China’s loan prime rate decision.
Overnight, US stocks closed weaker, led by declines in technology shares. The S&P 500 fell 0.59%, the Nasdaq Composite dropped 1.46%, while the Dow Jones Industrial Average ended nearly flat.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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