Telecom giant Bharti Airtel led the gainers in the 30-pack Sensex on June 4, recovering from a three-day slide in Indian equities. Other gainers in the BSE benchmark index included Eternal, IndusInd Bank, Maruti Suzuki, Tata Motors, and Bajaj Finance.
The NSE Nifty rose 70 points to as high as 24,612.75 in morning trade, while the Sensex gained 230 points to hit a morning high of 80,967.68 in early trade.
Among the laggards in the Sensex were TCS, UltraTech Cement, Titan, and ICICI Bank.
In contrast, Airtel hit a morning high of ₹1876.70 per share while IndusInd stock soared to as much as ₹814.30 apiece, and Tata Motors shares saw a high of ₹715.45 per share.
The recovery rally in Indian equities was helped by positive trading in Asian stocks on Wednesday morning and the US markets ending Tuesday in the green. Kospi (South Korea), SSE Composite (Shanghai), and Hang Seng (Hong Kong) indices were trading higher in the morning.
V.K. Vijayakumar of Geojit Investments attributed India’s improving macroeconomic indicators and sustained SIP inflows into mutual funds as significant factors in boosting investor sentiment.
Moreover, the better-than-expected earnings of midcaps added to the mix. “An important takeaway from the Q4 results is the outperformance of the midcaps relative to large-caps and small-caps,” said Vijayakumar.
Global markets rallied on uplifting US job openings data despite fears surrounding Donald Trump’s policies and stance on tariffs.
Tuesday saw the Sensex close 636 points lower and the Nifty settle after shedding 174 points, aggravated by foreign institutional investors (FIIs) offloading ₹2,853.83 crore worth of equities.
However, the strong sentiment in US markets led to the depreciation of the Indian currency, with the rupee slumping 25 paise to 85.86 vs the dollar in early Wednesday trade.
