Sensex, Nifty rebound on back of auto, metal shares.
Indian stocks rebound as BSE Sensex gains 128 points on strong GST collections, positive data, and foreign investments.
Indian stock market indices bounced back on Thursday after initially dipping. The primary BSE Sensex closed positively, gaining 128 points, fueled by robust GST collections in April, upbeat manufacturing figures, and increased foreign investments, all of which bolstered investor confidence.
The BSE Sensex, comprising 30 stocks, rose by 128.33 points, settling at 74,611.11, while the NSE Nifty50 climbed 43.35 points to reach 22,648.20.
Tata Motors, Tata Steel, NTPC, Sun Pharma, Mahindra & Mahindra, Power Grid, Asian Paints, and HDFC Bank were the prominent gainers among the Sensex constituents. Conversely, banking stocks, notably ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, and Axis Bank, lagged.
India recorded a notable surge in Goods and Services Tax (GST) collections in April, surging by 12.4% to a record high of Rs 2.10 lakh crore. The Finance Ministry attributed this growth to robust economic activity, increased domestic transactions, and higher imports, marking the first instance of breaching the Rs 2 lakh crore mark in April.
While Hong Kong’s market closed with gains, Kospi and Nikkei in Asia ended lower. European markets displayed mixed trends, while Wall Street concluded with a mixed performance following the US Federal Reserve’s decision to maintain interest rates. Brent crude oil witnessed a sharp decline, trading below $85 a barrel, marking its lowest in two months.
Before the market's closure for Maharashtra Day on May 1, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,071.93 crore.
| Follow the Hindeez on Google News |  |
| Follow the Hindeez channel on WhatsApp |  |
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
