Indian benchmark indices went up over 2.5 per cent to their best single day gains in three months, spurred by heavy buying in metal, energy and banking stocks as well as a global rally in stocks.
Sensex zoomed 1,344. The end of the day was 54,318 by 63 points or 2.54 per cent. All constituents are in the green with 47 points in the green. During the day, the index jumped 1,425. 58 points or 2.69 per cent of the total was 54,399. Nifty rallied 417 points or 2.63 per cent to end at 16,259. 30 points.
After the company posted a healthy set of numbers for the quarter ended March 2022, the shares of Bharti Airtel jumped 3 per cent in early trade to hit an intraday high of Rs 727.55.
It had a profit of 759 crore in the year-ago period.
The stock opened 2.52 per cent higher at Rs 725.40 against the previous close of Rs 707.55. With a market cap of more than Rs 3,89, 000 crore, the shares are higher than 5 day and 200 day moving averages but lower than 20 day, 50 day and 100 day moving averages.
According to a regulatory filing, Airtel reported consolidated revenue of Rs 31,500 crore for the quarter ended March 31, compared with Rs 25,747 crore in the same period last year.
Wall Street was higher on Tuesday, lifted by Apple, Tesla, and other megacap growth stocks after strong retail sales in April eased concerns about a slowing economic growth. The financials, materials, consumer discretionary, and technology all gained more than 2 percent of the 11 major S&P sector indices.
The S&P 500 increased 2.02 percent to 4,088 at the end of the session. 85 points. The Nasdaq increased by 2.76 percent to 11,984. The Dow Jones Industrial Average was up by 1.34 percent to 32,654, while the Dow Jones Industrial Average went up by 52 points. 59 points.
Shares in Asia-Pacific were mixed Wednesday morning after overnight comments from the US Federal Reserve Chairman Jerome Powell, who said he sen't raising rates until inflation comes down. In Japan, the Nikkei 225 rose 0.58%. The Topix index was 0.64 percent higher.
Today, the Indian equity market is likely to open on a flat note, as SGX Nifty was trading 26 points lower at 16,240.
The opening of the Indian market is believed to be the first indication of the Singapore Stock Exchange.
Indian benchmark indices rose by 2.5 per cent to their best single-day gain in three months, boosted by heavy buying in metal, energy and banking stocks amid a global rally in stocks.
Sensex zoomed 1,344. It was 63 points or 2.54 per cent to end at 54,318. All of the constituents are in the green with 47 points. The index went up 1,425. 54,399. was 58 points or 2.69 per cent or 58 points. Nifty rallied 417 points or 2.63 per cent to end at 16,259. 30 points. All 50 stocks advanced were steel and energy stocks.
Both Sensex and Nifty had their best single-day rally since February 15.
Tata Steel, Reliance Industries, ITC, Larsen Toubro, Wipro, ICICI Bank, HCL Technologies and Maruti were the top Sensex gainers, rising to 7.62 percent.