Indian shares exhibited growth in early trading on Tuesday. The increase, however, was restricted due to stern remarks from officials at the Federal Reserve and the anticipation of major U.S. inflation figures to be released later this week.
The standard and widely-used S&P BSE Sensex rose by a total of 292 points, seeing an increase of approximately 0.4%, and reached a new height of 75,034 points. Following suit, the broader NSE Nifty index also experienced a 0.4% surge in points, settling at 22,747, soon after breaking the 22,750 points for the first time.
Shares in IT and metal sectors showed encouraging signs with companies such as Tata Steel, LTIMindTree, Hindalco, and Infosys witnessing a rise of 1-2%. Tata Motors also marked approximately a 1% increase, owing to impressive annual sales from its subsidiary, JLR, boosted by enhanced production and consistent global demand.
Pharmaceutical company Lupin observed a marginal 0.6% rise after it received approval from the U.S. FDA for a generic medication aimed to treat tardive dyskinesia's involuntary movements
Axis Bank too saw a minor increase of 0.5% due to speculation about the likely exit of U.S. private equity behemoth, Bain Capital, from the bank.
Meanwhile, Dilip Buildcon surged by 2.2% after it secured an order worth Rs. 1,092.46 crore from Haryana Railways, and Prestige Estates saw a 1% increase in its stock after achieving record sales bookings in the fiscal year 2024. However, Gland Pharma suffered as its shares fell 5% following block deal speculations.
