Sensex climbs 134 points ahead of macro data
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The benchmark Sensex rose about 134 points in early trade on Friday as investors looked forward to release of key macroeconomic data amid positive global cues.
Optimistic buying in blue-chip stocks ahead of industrial production and inflation data, to be released after market hours, drove stocks higher, brokers said.
The 30-share index went up 133.60 points, or 0.38%, to 35,379.87. The gauge lost 73.08 points in the previous session.
Sectoral indices led by oil and gas, IT, consumer durables, capital goods and FMCG turned green.
The NSE Nifty index also rose 45.95 points, or 0.42%, at 10,762.50.
Major gainers were Asian Paints, Dr Reddy’s, L&T, ITC Ltd, TCS, Coal India, Infosys, Adani Ports, ICICI Bank, Kotak Bank, HDFC Ltd, NTPC, Wipro, Axis Bank and Maruti Suzuki, rising by up to 2.28%.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 900.69 crore, while foreign portfolio investors (FPIs) sold shares worth 364.88 crore on Thursday, as per provisional data.
Globally, Asian markets were trading higher, tracking gains on Wall Street overnight.
Hong Kong’s Hang Seng rose 1.25% and Japan’s Nikkei was up 0.90% in their early trade. China’s main Shanghai Composite Index was flat.
The US Dow Jones Industrial Average ended 0.80% higher on Thursday.
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Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
Revenue from operations rose to Rs 5,409 crore in the fourth quarter as compared with Rs 4,791 crore in the year-ago period, ACC Ltd said in a regulatory filing.
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Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
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Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
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Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
This deal is part of the airline’s "#VoteAsYouAre" campaign, “designed to mobilise first-time voters to fly home to exercise their constitutional right and help guide the flight path of the nation", ET reported.
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National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
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