Mkts close higher unaffected by India’s strikes in PoK, Pak

Mumbai: Benchmark stock indices Sensex and Nifty closed higher in a volatile session on Wednesday as India launched missile strikes on terrorist hideouts in Pakistan and Pakistan-Occupied Kashmir.

Buying in private banks and select auto shares such as Tata Motors helped the BSE recover most of the losses and hit a high of 80,844.63 later.

The 30-share BSE Sensex ended 105.71 points or 0.13 per cent higher at 80,746.78.

The 50-issue Nifty of NSE advanced by 34.80 points or 0.14 per cent to settle at 24,414.40.

Broader markets also recouped intraday losses and closed higher by more than a per cent. Sectoral indices closed mixed as auto, realty, and metal sectors advanced while pharma and FMCG ended in the red.

In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes early Wednesday on nine terror targets in Pakistan and Pakistan-Occupied Kashmir including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba’s base Muridke.

The military strikes were carried out under ‘Operation Sindoor’ two weeks after the massacre of 26 civilians in J&K’s Pahalgam.

From the 30-share Sensex firms, Tata Motors jumped the most by 5.05 per cent as India and the UK sealed a trade deal to reduce duties on most traded goods. The trade deal will make it easier for British firms to export whisky, cars, and other products to India.

Bajaj Finance, Eternal, Adani Ports, Tata Steel, HDFC Bank, Kotak Bank, ICICI Bank, Titan, Mahindra & Mahindra and Power Grid were among the gainers.

Asian Paints, Sun Pharma, ITC, Nestle, Reliance Industries and HCL Tech were among the laggards.

FIIs bought equities worth Rs 3,794.52 crore on Tuesday, according to exchange data.

The BSE midcap gauge jumped 1.36 per cent and smallcap index climbed 1.16 per cent.

Among sectoral indices, auto rallied the most 1.74 per cent, followed by consumer discretionary (1.21 per cent), metal (1.19 per cent), realty (1.12 per cent), consumer durables (1.05 per cent), power (0.95 per cent) and financial services (0.94 per cent). BSE FMCG and healthcare indices were the only laggards.

As many as 2,203 stocks advanced while 1,685 declined 158 remained unchanged on the BSE.

Global oil benchmark Brent crude climbed 0.64 per cent to $62.55 a barrel.

Snapping its two days of gains, the BSE benchmark declined 155.77 points or 0.19 per cent to settle at 80,641.07 on Tuesday. The Nifty dipped 81.55 points or 0.33 per cent to 24,379.60.