Stock Market Highlights, April 10: Sensex rises 354 pts, Nifty holds 22,750; broader indices outshine

Stock market updates on Wednesday, April 10: Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range o 1.23 per cent to 1.80 per cent

Closing Bell on April 10, 2024: Equity markets were rangebound with positive bias on Wednesday as investors await fresh triggers for directional moves. The S&P BSE Sensex ended with gains of 354 points, or 0.47 per cent, at 75,038 levels, while the Nifty50 closed at 22,754, up 111 points or 0.49 per cent.

ITC, Kotak Bank, SBI, Tech M, Bharti Airtel, Asian Paints, JSW Steel, Infosys, and Reliance Industries were the top winners on the 30-stock index, rising between 1 per cent and 2 per cent.

Meanwhile, in the broader markets, outperformed the market with the BSE MidCap index and the BSE SmallCap index advancing 0.89 per cent and 0.46 per cent, respectively. 

Among sectors, the Nifty PSU Bank, FMCG, Media, and Metal indices gained in the range o 1.23 per cent to 1.80 per cent, while Pharma, and Auto indices ended in the red.

3:46 PM

Tech View :: 'Decisive move above 22,750 in Nifty might induce a rally towards 23,000'

The Nifty mostly remained sideways today as investors preferred to wait ahead of the US CPI inflation data, which could potentially impact rate cuts by the Fed. The resistance zone is placed at 22,700-22,750, while support is at 22,600. A decisive move above 22,750 might induce a rally towards 23,000 in the short term. Since the market appears to be range-bound, buying on dips and selling on rallies might prove to be a good strategy with proper stop-loss measures.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:45 PM

Comment :: 'Investors remains fixated on impending release of the FOMC minutes, US inflation data'

Indian markets sustained their upward momentum, buoyed by a robust performance in the broader market, albeit slightly lagging behind its Asian and European counterparts. Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today. Following the release of strong US job data, market sentiments are inclined towards an anticipation of spike inflation, thereby reducing the likelihood of a near-term rate cut. Additionally, Fitch's recent downgrade of China's credit rating could potentially reverberate through the global economy, warranting a caution.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

 

3:43 PM

Currency check :: Rupee gains 12 paise vs US dollar, ends at 83.19/$

3:42 PM

Broader markets :: MidCap index adds nearly 1%

3:41 PM

Sectoral trends :: Nifty PSU Bank, Media rally up to 1.8%

3:40 PM

Sensex Heatmap :: ITC, SBI, Airtel end as top gainers on 30-stock index

3:38 PM

Closing Bell :: Nifty holds 22,750

3:37 PM

Closing Bell :: Sensex ends 354 pts higher ahead of US CPI data

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