Market News
3 min read | Updated on February 04, 2025, 16:44 IST
SUMMARY
Investor wealth increased by ₹5.85 lakh crore as the market capitalisation of the BSE-listed companies increased from ₹419.54 lakh crore on Tuesday to ₹425.40 lakh crore
Positive cues from the other Asian markets also supported the domestic indices. Photo: PTI
The benchmark equity indices on Tuesday, February 4, staged a strong come back and ended with sharp gains amid positive global sentiments. Both the bourses zoomed over 1.6%.
US President Donald Trump’s decision to delay tariffs on Mexico and Canada by a month made equity investors cheer. The US neighbours stuck in last minute deals to tighten border security against the flow of migrants and the drug fentanyl.
At close, the S&P BSE SENSEX stood at 78,583.13, jumping 1,397.07 points, or 1.81%, while the NSE's NIFTY50 index ended at 23,739.25, surging 378.20 points, or 1.62%.
Positive cues from the other Asian markets also supported the domestic indices. Sentiments got a boost as the private report said that India's fiscal and monetary policies are now focusing more on supporting economic growth, aligning with expectations of a cyclical recovery. The report highlighted that the Union Budget has maintained the path of fiscal consolidation, though at a slightly faster pace than anticipated.
Investor wealth increased by ₹5.85 lakh crore as the market capitalisation of the BSE-listed companies increased from ₹419.54 lakh crore on Tuesday to ₹425.40 lakh crore.
On the global front, Asian markets were trading mostly in green after the tariff pause development.
Asian markets were trading mostly in green; Hang Seng advanced 340.96 points or 1.69% to 20,558.22, Jakarta Composite gained 68.15 points or 0.96% to 7,098.21, KOSPI increased 26.29 points or 1.07% to 2,480.24, Nikkei 225 surged 322.57 points or 0.84% to 38,842.66 and Taiwan Weighted added 71.56 points or 0.32% to 22,766.27. However, Straits Times fell 6.39 points or 0.17% to 3,820.08.
US indices closed lower but recovered from the session’s low. The consumer discretionary stocks, which include carmakers, were hit on fears over the impact of the tariffs.
S&P 500 futures were up 0.4% on Tuesday and the dollar had reversed gains on Mexico's peso and the Canadian dollar.
China's market remained closed on account of the Lunar New Year.
Europe market logged biggest one day drop on Monday following the tariff news. STOXX 600 was down 0.9%.
As many as 4,073 stocks traded on the BSE on Tuesday. Out of this, 2,509 advanced and only 1,410 stocks declined while 154 scrips remained unchanged.
A total of 66 stocks hit their 52-week highs while 84 stocks touched their one-year lows. Besides, only 9 stocks hit their upper circuit limits and 4 touched their lower circuit bands on Tuesday.
As many as 39 stocks on the NIFTY50 index traded positive, while the remaining 12 closed in red.
The top five gainers on the index were Shriram Finance, Larsen and Toubro (L&T), Bharat Electronics, IndusInd Bank and Adani Ports, rising as much as 5.65% on NSE.
The top five losers were Trent, ITC Hotels, Britannia, Hero MotorCorp and Nestle India, losing as much as 6.44% on the 50-share index.
The BSE MidCap index ended at 42,787.12, advancing 573.17 points, or 1.35%, while the BSE SmallCap index settled 588.77 points, or 1.20% higher at 49,556.54 levels.
Except for BSE FMCG (-0.13%), all the other sectoral indices ended the session in positive, with the capital goods (3.4%), industrials (2.59%), oil and gas (2.40%), power (2.31%) and bankex (2.17%) taking the biggest hit.
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