Frontline indices the Sensex and the Nifty ended marginally higher on April 25 amid weak global cues as investors remain cautious tracking March quarter numbers and economic indicators which are not showing an upbeat picture of growth and corporate earnings.
Frontline indices the Sensex and the Nifty ended marginally higher on April 25 amid weak global cues as investors remain cautious tracking March quarter numbers and economic indicators which are not showing an upbeat picture of growth and corporate earnings.
Sensex opened 147 points higher at 60,202.77 and rose 213 points to hit the intraday high of 60,268.67. However, it also slipped into the red at one point, falling 89 points to 59,967.02.
Sensex opened 147 points higher at 60,202.77 and rose 213 points to hit the intraday high of 60,268.67. However, it also slipped into the red at one point, falling 89 points to 59,967.02.
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Eventually, the index closed 75 points, or 0.12 per cent, higher at 60,130.71 while the Nifty closed at 17,769.25, up 26 points, or 0.15 per cent.
Market sentiment remains cautious amid persisting concerns over rate hikes, its impact on economic growth and shrinking corporate profitability.
Major peers, including China’s Shanghai Composite Index, Korea’s Kospi, and Hong Kong’s Hang Seng, ended in the red. Among the European markets, UK’s FTSE, German DAX and French CAC 40 traded in the negative territory.
Sensex eked out gains on support from shares of select heavyweights, including Reliance Industries, ICICI Bank, Bajaj Finance, Bharti Airtel, SBI and ITC.
On the flip side, shares of HDFC twins, Axis Bank, Hindustan Unilever and Kotak Mahindra Bank ended as the top drags on the benchmark index.
Crude oil prices traded volatile on concerns that the global economic slowdown will the demand for oil as fuel. Brent Crude traded near the $82 per barrel mark.
The rupee ended flat at 81.92, as per Bloomberg data, even though the dollar rose against most of its global peers. Gains in the domestic market and lower crude oil prices supported the domestic currency.
