Indices edge higher for fourth day amid volatility

24 Apr 2024 , 03:48 PM

Indian benchmark indices continued their upward trajectory for the fourth consecutive session on Wednesday, driven by a mixed bag of Q4 results from various companies. However, gains were somewhat restrained due to the varied performance of global counterparts.

The Sensex, which commenced the day on a positive note at 73,957.57, surged to an intraday high of 74,121.61 before retracing some of its gains. Ultimately, it concluded the day with an uptick of 114.49 points, or 0.16%, at 73,852.94.

Similarly, the Nifty 50, opening higher at 22,421.55, reached a peak of 22,476.45 during trading hours. By the closing bell, it recorded a modest gain of 34.40 points, or 0.15%, settling at 22,402.40.

Among the 30 stocks constituting the BSE Sensex, 13 ended in negative territory. Notable decliners included TCS, Tech Mahindra, Maruti Suzuki India, Reliance Industries, and Titan. Conversely, JSW Steel, Tata Steel, Power Grid Corp., Kotak Mahindra Bank, and UltraTech Cement emerged as the top performers.

Meanwhile, out of the 50 stocks listed on the Nifty 50, 20 closed in the red. Leading gainers included Hindalco, Cipla, JSW Steel, Tata Steel, and Power Grid Corp., while Tata Consumer Products, Grasim Industries, Bajaj Auto, Tech Mahindra, and HDFC Life were among the notable losers.

The broader market exhibited strength, with the BSE SmallCap advancing by 0.79% and the BSE MidCap by 0.92%.

In sectoral performance, except for IT, Media, PSU Bank, and Auto, all other indices ended on a positive note. The Metal index led the gains, surging by 2.69%. Additionally, the healthcare index rose by 1.26%, Consumer Durables by 0.90%, Oil & Gas by 0.67%, and Pharma by 0.66%.

The Bank and Financial Services indices saw an uptick of 0.46% and 0.51%, respectively, while the FMCG index witnessed a marginal increase of 0.05% at the closing bell.