Business

Sensex Soars 900 Points, Nifty Climbs 300 Points In Remarkable Tuesday Recovery

Indian benchmark indices made a remarkable recovery on Tuesday following a challenging Monday, with the Sensex soaring over 900 points and the Nifty climbing nearly 300 points in early morning trade.

Despite a significant downturn in US markets, where the Nasdaq and S&P 500 fell by over 3% on Monday due to recession concerns and slowing job growth, Indian markets opened on a strong note.

Shares of Bharti Airtel surged in the opening trade after the company reported impressive Q1 FY25 results.

Bharti Airtel’s net profit increased by 158% year-on-year to Rs 4,160 crore, surpassing market expectations due to exceptional items.

ONGC also saw a 2.5% rise in its shares, despite reporting a 43% decline in its Q1 profit.

Asian Markets Mixed: Tokyo Rebounds 10%, South Korea Up 3%, MSCI Asia Pacific Index Surges 4%, Nifty & Sensex Also Rise

Asian markets reflected a mixed sentiment. Tokyo stocks rebounded by more than 10% as the yen eased following significant gains against the dollar. This recovery followed the Nikkei’s steep 12.4% drop on Monday, its largest decline ever.

South Korean stocks also saw a recovery, trading 3% higher on Tuesday after a severe downturn the previous day triggered by US recession worries. The benchmark Korea Composite Stock Price Index (KOSPI) gained 74.59 points, or 3.06%.

The MSCI Asia Pacific Index surged around 4% after a significant drop of more than 6% on Monday.

Market analysts noted that the correction in India on Monday was relatively moderate compared to most other markets.

Domestic investors played a crucial role in stabilizing the market, with Domestic Institutional Investors (DIIs) buying Rs 9,155 crore worth of shares, countering Foreign Institutional Investors’ (FIIs) sales of Rs 10,073 crore in the cash market.

Concerns persist that the US Federal Reserve may have delayed cutting interest rates for too long, keeping them at a two-decade high. The Fed is likely to announce interest rate cuts ranging from 0.25 to 0.75 percentage points at its next meeting on 18 September.

Also Read: CBDT’s Central Action Plan 2024-2025: An In-Depth Overview

Mankrit Kaur

Recent Posts

Supreme Court Issues Notices To CBI & ED On Manish Sisodia’s Bail Request

On Friday, the SC issued notices to the CBI and ED regarding Manish Sisodia's request…

13 minutes ago

AI & Surveillance Systems To Revolutionize Maha Kumbh 2025 Experience

The UP government is using AI, social media, and surveillance to ensure safety for 45…

39 minutes ago

Maha Kumbh 2025: Ultra-Modern Cruises To Become A Key Attraction For Devotees

The Yogi Adityanath-led UP government will introduce luxury cruises to transport devotees from Kashi to…

2 hours ago

Aam Aadmi Party Kicks Off ‘Revdi Par Charcha’ Campaign Ahead Of Delhi Elections

On Friday, AAP launched its 'Revdi Par Charcha' campaign to engage Delhi residents in the…

2 hours ago

Canada Denies Allegations Against Indian Leadership; Rejects Criminal Links

The Canadian govt addressed allegations linking Indian leaders to criminal activities, stating there is no…

3 hours ago

Delhi-NCR Faces ‘Very Poor’ Air Quality As Smog Engulfs Region

On Friday morning, Delhi-NCR's air quality was classified as 'very poor,' with a light haze…

4 hours ago