Stock Market Today Highlights: Sensex closes 500 pts above, Nifty PSU Bank up 4%.
Indian markets rally amid eased tensions. Nifty, Sensex volatile. Rupee opened weaker. Axis Bank Q4 results impact Nifty Bank. RBI restrictions had an impact on Axis.
Stock Market Highlights: Following the alleviation of geopolitical tensions, India’s primary indices sustained their upward momentum. Amidst considerable volatility, equity indices fluctuated, oscillating between positive and negative territory.
Earlier today, Indian stock benchmarks commenced trading on a lower note on Thursday, mirroring the weakness seen in global markets. The NSE Nifty is currently positioned below 22,400, while the BSE Sensex is fluctuating around 73,600.
In the currency arena, the Indian Rupee initiated the day 3 paise weaker at 83.36 against the US dollar, echoing the downturn observed in other Asian currencies.
This week, the rupee has witnessed an ascent following its decline to a historic low of 83.5750 last Friday. The de-escalation of tensions between Iran and Israel, coupled with inflows, has facilitated the recovery of the domestic currency.
"Currently, the range on USD/INR appears to be between 83.25 and 83.55," remarked an FX trader at a bank to Reuters. "With two significant U.S. data releases imminent, followed by the upcoming Fed meeting next week, it's challenging to gauge where the balance of risks lies."
Today, attention is centered on the Nifty Bank, particularly after banking titan Axis Bank released its Q4 results and the RBI imposed restrictions on Axis Bank's online customer onboarding. Throughout the morning, the index has sustained minor losses, with Axis Bank emerging as the top performer and Kotak Bank lagging behind.
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
