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Indian Markets Rise Despite Global Concerns
30 Jul
Summary
- Sensex and Nifty gain over 0.2% in afternoon trading
- Larsen & Toubro emerges as top performer, surging 4.73%
- Tata Motors faces steepest decline, falling 3.33%
On Wednesday afternoon, Indian markets saw a positive trading session, with the benchmark Sensex index rising 190.72 points or 0.23% to 81,528.67, and the Nifty gaining 49.30 points or 0.20% to 24,870.40.
The indices opened higher from their previous close levels, with infrastructure major Larsen & Toubro emerging as the top performer on the Nifty 50, surging 4.73% to ₹3,660.90. Other notable gainers included power sector heavyweight NTPC, consumer goods company Tata Consumer Products, pharmaceutical giant Sun Pharma, and cement manufacturer Grasim Industries.
On the downside, automobile manufacturer Tata Motors faced the steepest decline, falling 3.33% to ₹669.30. Two-wheeler maker Hero MotoCorp, private sector lender IndusInd Bank, non-banking financial company Shriram Finance, and pharmaceutical company Cipla also saw losses.
The cautious optimism in the afternoon trading session came despite ongoing concerns over foreign institutional investor outflows and global uncertainties surrounding the US Federal Reserve's policy announcement expected later in the day.
