sensex, sensex, nifty rise again… HCL tech falls after Q1 results!. – sensex reclaims 54k, rises 200 points; nifty above 16,100

by time news
Benchmark indices rose in Wednesday’s trade amid sharp fall in crude oil prices on recession fears. Most Asian markets traded flat.

At 9.25 am, the BSE Sensex was trading 202.15 points higher at 54,088.76. The Nifty 50 index gained 56.45 points to trade at 16,114.75. Midcap and smallcap indices rose up to 0.60 per cent.

Among Sensex stocks, Bajaj Finserv rose 1.48 percent to Rs 12,035.45. Asian Paints rose 1.40 percent to Rs 2932.60. Hindustan Unilever rose 1.34 percent to Rs 2,482.10. Larsen & Toubro, SBI, Nestle India, Tata Steel and Ultratech Cement rose up to 1.24 percent.

Brent crude was at $99.55 a barrel. It was US West Texas Intermediate crude earlier today at $95.78a barrel.

Among Sensex stocks, Bajaj Finserv rose 1.48 percent to Rs 12,035.45. Asian Paints added 1.40 percent to Rs 2932.60. Hindustan Unilever added 1.34 per cent to Rs 2,482.10 and Larsen & Toubro, SBI were the gainers.

Among the losers was HCL Technologies, which fell 1.84 percent to Rs 910.95 after June quarter results came in below expectations. Reliance Industries, Dr Reddy’s Labs, Sun Pharma and HDFC Bank fell up to 0.4 percent.

Meanwhile, data released yesterday showed India’s inflation largely unchanged at 7-odd percent. Nomura India said in a note that there will be further rate hikes. However, foreign brokerages felt that the terminal rate could be as low as 6 percent.

Industrial growth, on the other hand, was 19 per cent in May from 6.7 per cent in April due to a loose base from the second wave of Covid-19 last year. While Wall Street stocks closed overnight with losses, most Asian markets traded positively.

As of now, Sensex is trading up 75 points to 53962 points and Nifty up 31 points to 16089 points at 12.15 pm.

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