10 April 2024 – On Wednesday, benchmark indexes started the day higher, with gains of 0.36% and 0.34% for the SENSEX and NIFTY50, respectively. Of the stocks in the NIFTY50, 33 are rising. In the morning trading, the biggest losers were Divis Lab, HDFC Bank, Sun Pharma, Britannia, and Adani Ports, while the top gainers were Tata Steel, Bharti Airtel, JSW Steel, BPCL, and Reliance.
Gains in heavyweight companies such as ICICI Bank (+0.6%), Kotak Bank (+1.4%), and Reliance Industries (+1.1%) underpinned the benchmark indexes. As investors await the release of the US inflation data and the start of the Q4 earnings season, experts predict that the market will go through a period of consolidation. The Q4 result season will begin on April 12 with the release of TCS’s results.
The US saw annual inflation rise for the second consecutive month last month, climbing to 3.4% from 3.2% in February. Data on inflation is essential since the US Federal Reserve considers inflation rates when setting interest rates.
Conclusion
The NSE’s sectoral indexes began the day higher, led by advances in NIFTY Oil and Gas (+1.8%), Metal (+1.40%), and PSU Bank (+0.80%). In a similar vein, NIFTY Bank is up 149 points, or 0.31%, at 48,879. For the second day in a row, the NIFTY Metal index is rising, helped by increases in Vedanta (+6.6%), Hindalco (+1.8%), and NMDC (+6.0%).
