Value buying buoys equity markets
Mumbai: Positive European indices coupled with buying support on Wednesday buoyed the domestic stock markets. BSE and NSE recorded healthy buying in healthcare, oil and gas and capital goods stocks. The wider Nifty edged up by 37.30 points or 0.44 per cent to 8,565.85 points. The market barometer 30-scrip Sensex closed at 27,915.89 points, up 128.27 points or 0.46 per cent from the previous close at 27,787.62 points.
Positive European indices coupled with buying support on Wednesday buoyed the domestic stock markets. BSE and NSE recorded healthy buying in healthcare, oil and gas and capital goods stocks.
The BSE market breadth was tilted in favour of the bulls with 1,664 advances and 1,034 declines. On Tuesday, the benchmark indices closed on a flat-to-positive note, even as profit booking, disappointing quarterly results and negative global cues kept the equity markets subdued throughout the day’s trade. The barometer index had closed higher by 40.96 points or 0.15 per cent, while the Nifty inched up by 19.85 points, or 0.23 per cent.
Led by negative global cues and profit booking, coupled with apprehensions over quarterly results, the trading was flat afternoon. Opened at 27,775.70 points, Sensex touched a high of 27,935.18 points and a low of 27,759.71 points during the intra-day trade. The markets showed some positive momentum on the back of the government’s decision to infuse capital into public sector banks. In a statement, the Ministry of Finance announced a capital infusion of Rs 22,915 crore towards the recapitalization of 13 public sector banks during 2016-17.
Wipro tumbled almost seven per cent after the company missed street expectations with over six per cent fall in net profit for the first quarter ended June. The stock after a weak opening further lost 6.98 per cent to Rs 511 on BSE. The share price went down by 5.68 per cent to Rs 518 on NSE. The stock was the worst performer among the bluechips on both Sensex and Nifty intra trade.
On the other hand, shares of Wipro tumbled almost seven per cent after the company missed street expectations with over six per cent fall in net profit for the first quarter ended June. The forecast that IT services sales would grow less than one per cent in July-September also dampened the investors’ confidence. The stock after a weak opening further lost 6.98 per cent to Rs 511 on BSE. The share price went down by 5.68 per cent to Rs 518 on NSE. The stock was the worst performer among the bluechips on both Sensex and Nifty intra trade.
Indian currency fell five paise against US dollar to 67.15. The fresh demand for the American currency from importers kept the pressure on rupee.
In forex market, Indian currency fell five paise against US dollar to 67.15. The fresh demand for the American currency from importers kept the pressure on rupee. Dealers attributed the rupee’s fall to increased demand for the US currency from importers, but dollar’s weakness against some currencies overseas and a higher opening in domestic equity market restricted the loss. The domestic unit had staged a recovery by gaining 10 paise to 67.10 against dollar in Tuesday’s trade on fresh selling of the American currency by exporters and banks.
Source: IANS
Liveblog Updates:
A woman was killed and four other civilians were injured in Uri in Jammu and Kashmir's Baramulla district as the Pakistan army intensified artillery fire across the Line of Control (LoC) in Kashmir, officials said, adding that a large number of houses have also been damaged in the cross-border shelling.
Reports state that a Pakistani shell struck the vehicle the woman was traveling in, resulting in her death. The woman was identified as Nargis Bashir, and some of her family members had boarded a vehicle to flee from the Razarwani village in Uri that was hit by the mortar and artillery shells from Pakistan.
In an attempt to educate and make people aware about the consequences of war amid Pakistan's continuous firing in the border states, the Delhi government did a mock drill to test air raid sirens installed at the Public Works Department (PWD) at ITO and asked people to not react out of panic.
District Magistrate (Central) G. Sudhakar also urged people to remain calm and not be alarmed when they hear the sirens.
At least twice, sirens sounded during the drill, which started at 3 pm.
PWD Minister Parvesh Verma said 40-50 more such sirens will be installed across the national capital, each of which will cover an area of 8 km.
Residents present in Rajouri along the Line of Control have started moving to safer areas after heavy cross-border shelling and attempted drone and missile attacks last night by Pakistan. All drone and missile attacks were intercepted and foiled by India's air defence system.
#WATCH | J&K | Residents of Rajouri living along the LOC have started moving to safer areas after heavy cross-border shelling and attempted drone and missile attacks last night by Pakistan.
— ANI (@ANI) May 9, 2025
All drone and missile attacks were intercepted by India's air defence system and foiled,… pic.twitter.com/XITK0CsejT
Pakistan has claimed that its Economic Affairs Division account on social media has been hacked and called the post where it appealed for more loans from the international community owing to losses from Operation Sindoor "fake."
In a post on X, Pakistan's Ministry of Foreign Affairs Fact Checker shared a picture of the post and mentioned that it was "fake." Additionally, it asserted that the account had undergone hacking.
A missile-like object is found deep inside the Dal Lake after loud explosions were heard on Saturday morning in Srinagar, which is a major tourist attraction. The defense ministry also confirms that Pakistan has intruded into Srinagar's airspace in a press release.
Since the early hours of Saturday morning (10th May), Srinagar has been rocked with multiple explosions, and now electricity is taken off in various places across Kashmir. The reason for this is yet to be determined, as reports indicate multiple places in Kashmir have lost power. The Indian Army released a statement after the press briefing, where they mentioned that they have attacked and neutralized multiple terrorist launchpads in a coordinated fire assault, razing them to cinders.