Market Rally Continues for 3rd Day on Easing Iran-Israel Tensions

Ira Singh
Khabar khabaron Ki,23 April’24

The Indian share market indices extended gains for third straight day on Tuesday as fear around West Asia conflict eased and a sharp drop in volatility. At close, the Sensex was up 89.83 points, or 0.12 percent, at 73,738.45, and the Nifty was up 31.60 points, or 0.14 percent, at 22,368.

Analysts expect the market to maintain the bullish undertone as the Lok Sabha elections and corporate earnings season continue.

Highlights of the day:
●RIL trades flat after Q4 earnings announcement,
●JNK India IPO opens for subscription today,
●Tata Consumer to post March quarter earnings,
●CLSA upgrades Indus Towers to buy from outperform,
●CLSA downgrades RIL to outperform from buy,
●M&M Financial falls 6% as firm to delay Q4 results

Grasim Industries, Bharti Airtel, Nestle India, Maruti Suzuki and HCL Technologies were the top gainers on the Nifty,while losers included Sun Pharma, BPCL, Reliance Industries, M&M and Hindalco Industries.

On the sectoral front, healthcare, metal, oil & gas and energy were down 0.3-0.8 percent, while FMCG, power, IT, realty and auto were up 0.4-2 percent.The BSE midcap index rose 0.5 percent and the smallcap index gained a percent.

Rupee Close:
On 23 April’24,the Indian rupee ends flat as dollar demand from importers pulled the South Asian currency back from the near two-week high it hit during the session.The rupee closed at 83.3425 against the U.S. dollar,on Tuesday, barely changed from its close at 83.3625 in the previous session.

Trading Guide:
Market experts have recommended seven buy or sell stocks for today — LIC Housing Finance, SBI, LT, TVS Motor, DACL, Havells India, and Triveni Engineering.