Sensex Rises 200 pts, Nifty Above 17,650; Key Points to Know

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Last Updated: April 24, 2023, 09:26 IST

Sensex Today:  Indian indices opened higher on April 24 with Nifty around 17,700. The Sensex was up 195.46 points or 0.33 per cent at 59,850.52, and the Nifty was up 46.10 points or 0.26 per cent at 17,670.10.

In the broader markets, the BSE MidCap and SmallCap indices were mixed with the former in the red, and the latter in the green.

Among sectors,the Nifty Media, Pharma, and Realty indices fell up to 1 per cent, while the Nifty Bank index was up 0.5 per cent.

YES Bank shares fell 2.5 per cent after the private sector lender saw a 45 per cent YoY decline in net profit to Rs 202 crore in Q4FY23, due to doubling of provisions. NII, further, grew 15.4 per cent in the March quarter to Rs 2,105 crore on the back of a 0.30 per cent expansion in the net interest margin.

Wipro shares, on the other hand, added 1 per cent as the IT services firm is reconsidering a buy back proposal of equity shares, and the final decision will be taken on April 26-27.

Sun Pharmaceuticals shares dropped 2.4 per cent as the US health regulator, United States Food and Drug Administration (USFDA), is set to take corrective actions at the Mohali facility before releasing further final product batches into the US.

HDFC Life surged 7 per cent after the RBI allowed HDFC Ltd to hold its share in the subsidiary post the merger with HDFC Bank.

Global Cues

Asian shares started cautiously on Monday in a week packed with economic data and central bank meetings, along with earnings from the tech giants that have kept the S&P 500 afloat so far this year. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1%. S&P 500 futures and Nasdaq futures both eased 0.2% ahead of a busy week of earnings.

The dollar began the last trading week of the month on the back foot, with traders awaiting a slew of central bank meetings in May for clues on when the steepest global monetary policy tightening campaign in years might come to a halt. The U.S. dollar dipped against most major currencies in early Asia trade, with the euro and sterling rising 0.05% to $1.0994 and 0.02% to $1.2447, respectively.

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