Nifty snaps 10-day shedding streak, Sensex closes up – Firstpost

Benchmark BSE Sensex surged by 740 factors whereas Nifty snapped a 10-day shedding streak on Wednesday following worth shopping for in utilities and energy shares and a robust development in world markets. The 30-share BSE Sensex surged by 740.30 factors or 1.01 per cent to shut at 73,730.23. The index jumped 943.87 factors or 1.29 per cent to hit an intra-day excessive of 73,933.80.

Slicing quick its document 10-day falling streak, the broader Nifty of NSE rebounded by 254.65 factors or 1.15 per cent to settle at 22,337.30. Throughout the day, it appreciated by 312.25 factors or 1.41 per cent to a excessive of twenty-two,394.90.

From the Sensex pack, Adani Ports, Tata Metal, Energy Grid, Mahindra & Mahindra, NTPC, Tech Mahindra, Tata Motors, ITC, Nestle India, HCL Applied sciences, Bharti Airtel, State Financial institution of India, Asian Paints and Kotak Mahindra Financial institution had been the gainers.

Bajaj Finance, IndusInd Financial institution, HDFC Financial institution, and Zomato had been the laggards.

“Sturdy world market cues led the restoration in home indices as talks that the Trump administration may reverse some tariffs amidst the continuing world commerce tensions buoyed sentiment,” Prashanth Tapse, Senior VP (Analysis), Mehta Equities Ltd, stated.

Additionally, native components corresponding to a rise within the February PMI index additionally boosted the sentiment within the markets, Tapse stated.

India’s providers sector exercise witnessed a pointy uptick in February boosted by bettering home and worldwide demand, which resulted in a faster enlargement in output and a considerable improve in employment, a month-to-month survey stated on Wednesday.

The seasonally adjusted HSBC India Providers PMI Enterprise Exercise Index rose from January’s 26-month low of 56.5 to 59.0 in February, indicating a pointy charge of enlargement.

“India’s providers enterprise exercise index rose to 59.0 in February 2025, up significantly from January’s 26-month low of 56.5. International demand, which grew at its quickest tempo in six months in response to the brand new export enterprise index, performed a significant function in driving output progress for India’s providers sector,” stated Pranjul Bhandari, Chief India Economist at HSBC.

In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul closed greater. European markets had been buying and selling within the constructive zone. Wall Road ended decrease on Tuesday.

International oil benchmark Brent crude decreased 0.49 per cent to USD 70.69 a barrel.

Alternatively, Overseas Institutional Buyers (FIIs) offloaded equities price Rs 3,405.82 crore on Tuesday, in response to change information.