| The key equity benchmarks traded rangebound with decent gains in mid-morning trade. The Nifty traded above 23,550 mark. Media shares advanced after declining in the past two trading sessions. The Nifty monthly futures and options (F&O) contracts are set to expire today.
At 11:25 IST, the barometer index, the S&P BSE Sensex, added 341.20 points or 0.44% to 77,628.47. The Nifty 50 index advanced 100.30 points or 0.43% to 23,587.15.
In the broader market, the S&P BSE Mid-Cap index rose 0.04% and the S&P BSE Small-Cap index added 0.33%.
The market breadth was negative. On the BSE, 1,766 shares rose and 1,994 shares fell. A total of 154 shares were unchanged.
Buzzing Index:
The Nifty Media index rose 0.82% to 1,499.60. The index declined 3.96% in the past two trading sessions.
Saregama India (up 1.63%), Zee Entertainment Enterprises (up 1.5%), PVR Inox (up 1.36%), Sun TV Network (up 1.02%), Dish TV India (up 0.86%), Network 18 Media & Investments (up 0.4%), Den Networks (up 0.26%) and Hathway Cable & Datacom (up 0.23%) advanced.
Stocks in Spotlight:
Newgen Software Technologies surged 5.05% after the company announced that it has secured an award letter for an Enterprise Content Management (ECM) solution contract worth $1.28 million.
Tata Motors slumped 4.80% after U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, a move aimed at boosting domestic manufacturing.
IRM Energy soared 10.96% after the firm said that it has signed a five-year agreement with Shell Energy India for the supply of Regasified Liquefied Natural Gas (RLNG).
Global Market:
Most Asian stocks advanced on Thursday, as investors digested U.S. President Donald Trump's plan to impose 25% tariffs on auto imports.
Japanese automaker stocks took a sharp hit after Trump confirmed that the tariffs-targeting imported cars and light trucks- will take effect on April 2. The move could have significant repercussions for Japanese manufacturers, who rely heavily on the U.S. market.
US market closed lower on Wednesday, with investors fretting over the economic impact of the tariffs. Tech stocks also faced selling pressure amid mounting concerns about an oversupply of AI data centers and computing capacity.
At the closing bell, the Dow Jones Industrial Average slipped 0.31%, the S&P 500 lost 1.12%, and the NASDAQ Composite plunged 2.04%.
AI giant NVIDIA dropped 1.2% after already tumbling 5.7% during Wednesday's session. Server makers Broadcom, Dell Technologies, and Super Micro Computer also declined in after-hours trading. Meanwhile, GameStop surged 11% after its management approved a plan to invest excess cash in Bitcoin. |