Sensex rises 500 pts, Nifty tops 24,000; pharma, IT stocks lead

The Nifty50 and the Sensex rose, tracking a rise in Asian peers as traders hope for the tension in West Asia to de-escalate.

The Nifty50 was trading 0.74 per cent or 173.56 points higher at 24,074.35, and the Sensex was trading 0.73 per cent or 572.65.

Broader markets outperformed the benchmark indices. The Nifty MidCap and the Nifty SmallCap indices were trading 1.16 per cent and 1.05 per cent higher, respectively.

Sector-wise, the Nifty Realty, Nifty IT and the Nifty Pharma outperformed the benchmark indices. Meanwhile, the Nifty Private Bank and the Nifty Financial Services underperformed.

Brent crude pared some intraday gains after Bloomberg reported that Iran likely has reached out to the US with a new proposal to open the crucial supply waterway. The April contract was trading 1.1 per cent higher at $106.5 per barrel.

Q4 results today

Agi Greenpac, Adani Total Gas, AU Small Finance Bank, Bajaj Housing Finance, Coal India, Canara Robeco Asset Management Company, City Union Bank, Prataap Snack, Huhtamaki India, Jindal Saw, Kirloskar Pneumatic Company, Mahindra Holidays & Resorts India, Nippon Life India AMC, The Phoenix Mills, Piramal Finance, Punjab & Sind Bank, Rallis India, SBI Cards and Payment Services, Supreme Industries, Tamilnad Mercantile Bank, UltraTech Cement, Unicommerce Esolutions, Varun Beverages, and Websol Energy System will release their fourth-quarter results

IPO Today

Amba Auto Sales & Services initial public offer will open for subscription on Monday. It’s book-build issue worth ₹65.12 crore. The IPO will close on April 30.