Stock market opened higher on Wednesday, with benchmark indices Sensex and Nifty seeing an uptick driven by hopes of easing US-China trade tensions after US President Donald Trump hinted that tariffs on Chinese imports could be significantly reduced under a new deal—though not eliminated entirely.
As of 8:09 am IST, GIFT Nifty futures were trading at 24,366, indicating a 0.8 per cent gain from Tuesday’s Nifty 50 close of 24,167.25.
Markets also found support as Donald Trump backed away from threats to fire US Federal Reserve Chair Jerome Powell, helping the US dollar rebound from recent multi-year lows, according to Reuters.
Global investors have been closely watching the US-China trade dynamic, concerned about its ripple effects on global growth and inflation.
How stock market peformed yesterday
Sensex and Nifty ended higher for the sixth consecutive session on Tuesday, April 22, supported by gains in banking and FMCG stocks, along with sustained foreign fund inflows.
The BSE Sensex rose 187.09 points, or 0.24 per cent, to close at 79,595.59, after hitting an intraday high of 79,824.30—up 415.8 points, according to figures mentioned in a news agency PTI report.
The NSE Nifty gained 41.70 points, or 0.17 per cent, to settle at 24,167.25.
Barring IT and energy, most sectoral indices ended in the green, with realty, FMCG, and banking stocks leading the gains.
Top performers from the Sensex included ITC, Hindustan Unilever, Mahindra & Mahindra, HDFC Bank, Kotak Mahindra Bank, SBI, and ICICI Bank.
IndusInd Bank was the biggest drag, plunging 4.88 per cent after reports surfaced that it had engaged EY for a forensic audit into a ₹600 crore microfinance discrepancy. However, the bank clarified post-market hours that no such external audit was commissioned; rather, its Internal Audit Department is reviewing the matter.
Other notable laggards included Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv.
The BSE Sensex jumped 855.30 points or 1.09 per cent to settle above the 79,000 mark at 79,408.50 on Monday. The Nifty climbed 273.90 points or 1.15 per cent to close at 24,125.55.
