Placeholder canvas

Sensex recovers 54 points in early trade on corporate earnings

Date:

Mumbai: The BSE Sensex recovered by about 54 points in early trade on Friday on fresh buying by investors after ITC Ltd reported better-than-expected earnings.

The 30-share index, which had lost 205.37 points in the previous session, rebounded 53.67 points or 0.19% to 27,764.19 with stocks of FMCG, power, capital goods, auto, consumer durables and healthcare, rising by up to 0.75%.

Similarly, the broader NSE Nifty was trading 15.30 points or 0.17% higher at 8,525.40.

Buying activity emerged after FMCG major ITC Ltd yesterday reported posted an over 10 per cent rise in standalone net profit at Rs 2,384.67 crore for April-June quarter.

Shares of ITC Ltd climbed 1.04% to Rs 253.25 in early trade.

Other gainers that supported the recovery were GAIL, Power Grid, Asian paints, Tata Motors, M&M, NTPC, L&T and RIL.

Traders said, however, a weak trend in other Asian bourses following overnight weakness in the US, restricted the rise on the domestic market.

In Asian, Japan’s Nikkei fell 0.89% while Hong Kong’s Hang Seng was down 0.40 per cent in early trade.

Shanghai Composite was 0.31% down.

The US Dow Jones Industrial Average ended 0.42 per cent lower on Thursday.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

IPL 2024: Riyan Parag Shines As RR Posts 185/5 Against DC

Jaipur: In a remarkable turn of events, Rajasthan Royals...

NIA Arrests One Key Conspirator In Rameshwaram Cafe Blast Case

New Delhi: In a significant development in the investigation...

H1B Visa: USCIS Gears Up For Lottery Selection For Fy-25

Due to a technical issue with its website, the USCIS delayed the deadline for visa applications for the financial year 2025 by three days from March 22nd to March 25th, 2024

To Browbeat And Bully Others Is Vintage Congress Culture: PM Modi After 600 Lawyers Write CJI

New Delhi: In response to the voiced apprehensions of...