Stock Market Today: The Nifty 50 and Sensex, two Indian equity benchmarks, maintained their gains in early trades on Wednesday, April 5, when the Indian stock market resumed trading after the Mahavir Jayanti holiday.
The BSE Sensex increased 154.11 points or 0.26% to 59,260.55, the NSE Nifty 50 increased 47 points or 0.27% to 17,445.05, and the Bank Nifty increased 56.85 points or 0.14% to 40,869.90.
Stock Market Today: Top Gainers & Losers
Bajaj Finance, Bajaj Finserv, ONGC, HDFC Bank, and Coal India were the top gainers on the Nifty 50 index, while HCL Tech, Hindalco, Apollo Hospital, Eicher Motors, and Asian Paints were the top losers.
Oil edges up as OPEC cuts, U.S. inventories brighten outlook
Early on Wednesday in Asian trading, oil prices increased due to expected drops in U.S. crude inventories and the revised output reduction plans from OPEC+. At 00:21 GMT, Brent crude futures increased 38 cents to $85.32 a barrel. US crude’s West Texas Intermediate gained 33 cents to $81.04 a barrel.
The American Petroleum Institute said on Tuesday that U.S. crude stocks decreased by around 4.3 million barrels in the week ending March 31, which helped to increase oil prices. Asia’s service sector saw its greatest growth in Japan in more than nine years in March.
Reliance Industries secures $2 bn additional loan
After getting a $3 billion credit line from 55 banks last week, Reliance Industries Ltd. (RIL) has now acquired a $2 billion additional credit line from 18 banks, according to three persons with direct knowledge of the development. Hence, the company received a $5 billion overall loan, making it the largest syndicated loan fundraising in India’s business history.
Reliance The $2 billion add-on facility was obtained by Jio Infocomm Ltd, a division of RIL, on Tuesday under the identical conditions as its most recent $3 billion syndicated loan. The money will mostly be used for RIL’s capital projects and Jio’s statewide 5G rollout.
Stock Market Today: Asian equities under pressure as US stock rally fizzles
When US equities ended a four-day winning streak amid a selloff in banks, equity markets in Asia declined. Compared to Australian stocks, shares in Japan fell by more than 0.7%. After the S&P 500 Index fell 0.6% on Tuesday, contracts for US benchmarks were stable on Wednesday. Due to a holiday, markets in Hong Kong and mainland China are closed.
The yen and the Australian dollar led the gains versus the majority of Group-of-10 currencies as the dollar fell. Wall Street stocks declined on Tuesday as financial and industrial shares declined amid concerns about slowing growth. The session was overshadowed by former president Donald Trump’s historic courtroom appearance.
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
