Business

Indian Stock Market Closes Higher As Investors Await TCS Q2 Results

The Indian stock market wrapped up Thursday’s trading session with slight gains as investors braced for the much-anticipated second-quarter (Q2) results from Tata Consultancy Services (TCS), the country’s largest IT services company, expected later in the day.

Market watchers are also keeping a close eye on the forthcoming inflation data from the United States, set to release after trading hours, which could have significant implications for global markets.

At the close of trading, the Sensex climbed by 144 points, or 0.18%, reaching 81,611. The Nifty index finished at 24,998, up 16 points, or 0.07%.

The Nifty Bank index showed robust performance, closing at 51,530 with a gain of 523 points, or 1.03%, driven by a surge in banking stocks.

Among the leading gainers in the Sensex index were Kotak Mahindra Bank, JSW Steel, HDFC Bank, Power Grid, IndusInd Bank, Maruti Suzuki, NTPC, Axis Bank, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Tata Steel, ITC, Bajaj Finance, and Tata Steel.

Conversely, Tech Mahindra, Sun Pharma, Infosys, Titan, Wipro, Tata Motors, Larsen & Toubro, TCS, Hindustan Unilever, Asian Paints, and Reliance saw declines.

Small and mid-cap stocks performed mixed. The Nifty Midcap 100 index ended at 58,935, down 166 points, or 0.28%, while the Nifty Smallcap 100 index gained 35 points, or 0.19%, closing at 18,900.

Sector-wise, stocks in the Auto, Financial Services, Metals, Energy, Private Banking, and Commodities sectors showed the most significant gains, while IT, PSU Banks, Pharmaceuticals, FMCG, Realty, and Media sectors faced the steepest declines.

Overall, the market sentiment leaned positive. On the Bombay Stock Exchange (BSE), 2,259 shares rose, while 1,654 fell, with 133 remaining unchanged.

Cautious Trading Prevails Amid Q2 Earnings Season

Market analysts noted a cautious trading environment, as the indices exhibited a range-bound pattern amid negative sentiment leading up to the Q2 earnings season.

While the Asian markets opened on a strong note, they struggled to maintain momentum, particularly as European markets began trading on a negative trajectory, driven by rising global bond yields.

Experts observed that broader domestic market conditions were mixed, with a prevailing sense of caution, as expectations for Q2 FY25 results appear subdued due to a lackluster performance in global markets and rural demand.

Also Read: RBI Keeps Repo Rate Steady At 6.5%; Maintains GDP Growth Forecast

Mankrit Kaur

Recent Posts

Kisan Credit Card Scheme A Lifeline For Indian Farmers: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday described the Kisan Credit Card (KCC) scheme as a…

2 hours ago

Trump Administration Shuts Down Controversial ‘Quiet Skies’ Surveillance Program

The Trump administration has officially shut down the ‘Quiet Skies’ passenger surveillance program, a covert…

2 hours ago

PM Modi Likely To Visit Bengal For Twin Programmes On June 20

Prime Minister Narendra Modi is likely to visit West Bengal later this month for two…

2 hours ago

Elon Musk Hints At Launching ‘The America Party’ As Political Rift With Trump Widens

Elon Musk has sparked speculation about founding a new political outfit named 'The America Party'…

2 hours ago

Trump Set to Sell His Tesla Car As Clash With Elon Musk Escalates

US President Trump is reportedly planning to sell his Tesla car, purchased in March to…

3 hours ago

Musk-Trump Fallout Threatens NASA And Pentagon Operations: Report

A recent fued between Elon Musk and former US President Donald Trump has raised serious…

3 hours ago