Sensex gains 900 pts, Nifty above 24,250; Auto index up 2%, Maruti Suzuki 5%

Indian equity benchmark indices, Sensex and Nifty50, were trading sharply higher on Wednesday, backed by buying in blue-chip stocks and positive cues from Asian markets.

Around 11:00 AM, the BSE Sensex was quoting at 77,824.04 levels, up 937.13 points or 1.22 per cent, and the NSE Nifty50 was at 24,284.00 levels, up by 288.30 points or 1.2 per cent,

Broader markets followed the benchmark indices. The Nifty MidCap and the Nifty SmallCap were trading 0.81 per cent and 0.86 per cent higher, respectively.

Among the sectoral indices, the Nifty Auto index rose 2.5 per cent, followed by FMCG, IT, Realty and Oil & Gas up over 1 per cent each. Nifty Bank, Financial Services, Metal, Pharma, Healthcare, Consumer Durables, and Chemicals were also trading higher.

Maruti Suzuki India, Tata Motors Passenger Vehicle, and Eicher Motors were the top gainers in the Nifty50 index.

Brent crude rose 0.36 per cent to $111.6 per barrel on the Intercontinental Exchange as the opening of the Strait of Hormuz gets delayed amid stalled US-Iran talks, while the UAE announced its exit from OPEC, with effect from May 1.
Q4 results today
Adani Power, Bajaj Finance, Cemindia Projects, Federal Bank, Fino Payments Bank, Force Motors, Geojit Financial Services, Granules India, HEG, IIFL Finance, Indegene, Indian Bank, Indian Overseas Bank, Jana Small Finance Bank, KFin Technologies, MAS Financial Services, MOIL, Motilal Oswal Financial Services, Mphasis, Navin Fluorine International, RPG Life Sciences, Schaeffler India, Sterlite Technologies, Syngene International, Vedanta, and Waaree Energies will release their fourth quarter results on Wednesday.

IPO Today

Amba Auto Sales & Services’ initial public offer will enter final day of subscription. On the first day, the issue was subscribed 0.44 times on the second day. It’s a book-build issue worth ₹65.12 crore.