MARKET UPDATE: Sensex advanced 165 points to quote 59,820 levels, while the Nifty50 attempted to surpass 17,700-mark
Published On: Monday, April 24, 2023 | By: Team KnowMyStock
Opening Bell: The S&P BSE Sensex advanced 165 points to quote 59,820 levels today(24 April 2023) as investors bought shares of ICICI Bank, Reliance Industries, Wipro, IndusInd Bank, and HDFC twins. The Nifty50 attempted to surpass the 17,700 mark. Both benchmark indices were up over 0.25 percent each. In the broader markets, the BSE MidCap and SmallCap indices were mixed with the former in the red, and the latter in the green. Sectorally, the Nifty Media, Pharma, and Realty indices fell up to 1 percent, while the Nifty Bank index was up 0.5 percent.
YES Bank shares fell 2.5 per cent after the private sector lender saw a 45 per cent YoY decline in net profit to Rs 202 crore in Q4FY23, due to doubling of provisions. NII, further, grew 15.4 per cent in the March quarter to Rs 2,105 crore on the back of a 0.30 per cent expansion in the net interest margin.
Wipro shares, on the other hand, added 1 per cent as the IT services firm is reconsidering a buy back proposal of equity shares, and the final decision will be taken on April 26-27.
Sun Pharmaceuticals shares dropped 2.4 per cent as the US health regulator, United States Food and Drug Administration (USFDA), is set to take corrective actions at the Mohali facility before releasing further final product batches into the US.
HDFC Life surged 7 per cent after the RBI allowed HDFC Ltd to hold its share in the subsidiary post the merger with HDFC Bank.
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