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

Rouse Avenue Court To Rule On AAP Money Laundering Chargesheet On November 6

The ED submitted the first supplementary chargesheet of 110 pages on October 29. It alleges…

10 hours ago

Allahabad HC Rejects Exemption Request From Additional Chief Secretary Due To Chief Minister’s Program

The court stated that proceedings should not delay because of any constitutional officer's schedule. However,…

11 hours ago

Court Directs ED To Provide Charge Sheet Copies To Accused In Delhi Liquor Policy Case

During the proceedings, the ED requested more time to share copies of digital records, remaining…

11 hours ago

Mahakumbh 2025: Google Maps To Guide Devotees For The First Time

Google has modified its policy to include Mahakumbh, recognizing the event's significance and massive turnout.…

11 hours ago

Yogi Government Eases FDI Policy To Boost Foreign Investment In Uttar Pradesh

During a cabinet meeting on Monday at Lok Bhavan, the state approved changes to the…

12 hours ago

Tribute Meeting To Honor Martyrs Of 1966 Cow Protection Movement

Yuva Chetna will organize a tribute meeting to honor martyrs of the 1966 cow protection…

12 hours ago