Home / Business and Economy / Sensex Gains on Strong Earnings, Investors Await Fed Decision
Sensex Gains on Strong Earnings, Investors Await Fed Decision
30 Jul
Summary
- Sensex and Nifty close marginally higher amid volatility
- Larsen & Toubro's robust Q1 results boost investor sentiment
- Rupee breaches 87 mark against the dollar, hitting 4-month low
In the latest trading session, Indian markets closed marginally higher on Wednesday, with the Sensex gaining 143.91 points and the Nifty 50 inching up by 33.95 points. The positive performance was primarily driven by strong earnings from infrastructure major Larsen & Toubro (L&T), which emerged as the top gainer on the Nifty 50, surging over 4%.
Despite the overall positive close, the session was marked by volatility as investors remained cautious ahead of the upcoming U.S. Federal Reserve's policy decision and ongoing uncertainty surrounding the India-U.S. trade deal. The domestic currency also faced significant pressure, with the rupee breaching the 87 mark against the dollar, its lowest level in over four months.
Sector-wise, selective buying was witnessed in IT, FMCG, and capital goods segments, while autos and realty stocks saw some profit-booking. Technical analysts remained cautiously optimistic about the market's near-term prospects, with the Nifty 50 index forming a bullish hammer candle and trading above its 100-day moving average.
