Stock Market LIVE: Sensex Recovers from Lows, Gains 100 Points; Nifty Holds Above 22,950
RVNL gained over 6percent after it secured the Rs554.47 million contract with Rail Infrastructure Development Company (Karnataka) Ltd (K-RIDE) for the Bengaluru Suburban Rail Project (BSRP). Additionally, Vedanta shares gained nearly 2 percent after the company was able to secure 83% approval from the creditor for its proposed demerger plan, which is a significant stage in its restructuring strategy.
Stock Market LIVE: Sensex Recovers from Lows, Gains 100 Points; Nifty Holds Above 22,950
Sensex News Live: The Nifty IT index fell over 1.2 percent while investors waited for the Federal Reserve's meeting in January minutes to be released at the end of market hours, amid indications from senior official that cuts to rates aren't likely to happen anytime soon.
Today, the global markets:
- Asian stocks set to fall as Trump proposes new tariffs
- Oil prices rise in the wake of U.S., Russia supply restrictions as market searches for Ukraine talks to be more clear
- Dollar stocks on Ukraine tensions: The kiwi market is in decline as NSE cuts rates
- Gold from safe-havens is hovering near record levels on Trump tariff concerns
- S&P 500 hits an all-time high for the closing as Fed minutes sat on the table
Stock market news: Following a dramatic 31% decline over the past two days, Zen Technologies shares rebounded on Wednesday, gaining 10% during the intraday trade to reach the upper circuit in the range of Rs1,069.20 in the BSE.
Pharmaceutical stocks plummeted on Wednesday and that the Nifty Pharma Index slipping by over two percent. Aurobindo Pharma led the decline dropping as much as 9.5 percent to Rs1,053.45 which is the largest loser of the industry.
In recent times India's market for stocks has become an arena for battle. Mid- and small-cap stocks rose to record levels, fueled by the strong interest of retail investors as well as megacap stocks.
The gold March futures on MCX began the day flat at Rs86,040 for 10 grams, falling 0.08 percent or Rs73 while the March silver futures were traded at Rs96550 per kilogram which was down 0.31 percent or Rs298.
Samvardhana Motherson International, a top auto component maker, has lost more than 40% since its high but is now hovering near important levels of support over the course of a year in the charts for weekly trading, signalling an opportunity for a possible technical rebound.
