Wednesday turned out to be slightly favourable for the Sensex as it gained a surge of 0.51 per cent at the days closure. Even, Nifty at the NSE showed an increase of 66 points and closed at 10,729. In the entire days course, the Sensex was volatile and thus, moved 700 points, which was a drastic shift. However, the Sensex later recovered the losses in the US markets and consequently, covered last three successive losses that are, 1000 points.
Since last week, a growing tension was continuing in the global market pertaining to the decline in the global growth, a sharp increase in the interest rates by the Federal Reserve, detrimental tariff war between the UN and China whilst a decrease in the crude oil price has brought some comfort to the Indian equities and currency. Further, a drop in the global equity market created a positive impact on the Indian markets.
Sensex companies which yesterday received gains were Bharti Airtel ( 3.9 per cent) and HDFC Ltd and HDFC Bank (1.7 per cent) whilst the companies which incurred losses were Infosys, Yes Bank, NTPC,Sun Pharma, TCS, Tata Motors and ONGC.
On days cessation, the rupee showed a marginal increase of 8 paise and thus, amounted as 70.08 per dollar.