Indian equities posted modest gains on Thursday, buoyed by positive global cues and optimistic earnings reports from companies such as UltraTech Cement and Adani Energy, which bolstered investor confidence.
However, gains were tempered by the uncertainty surrounding U.S. President Donald Trump's trade policies and tariff threats. The dollar, after recovering from an initial dip, stayed within a narrow trading range as investors awaited guidance from Trump's keynote address at the World Economic Forum in Davos, Switzerland. The newly inaugurated president is set to deliver his speech via video link at 5 p.m. Davos time.
The S&P/BSE Sensex concluded the day with an increase of 115.39 points, or 0.15%, closing at 76,520.38. Similarly, the broader NSE Nifty index rose by 50 points, or 0.22%, to settle at 23,205.35.
Mid-cap and small-cap indices on the BSE outperformed major indices, with gains of 1.8% and 0.8%, respectively. Market breadth was positive on the BSE, as 2,123 stocks advanced, 1,839 stocks declined, and 105 stocks remained unchanged.
UltraTech Cement surged by 6.7% after reporting a lower third-quarter net profit but surpassing analysts' expectations. Sun Pharma, Shriram Finance, Wipro, and Grasim saw gains of 2-3%. Additionally, Coforge soared by 11.5%, and Persistent Systems increased by 10.3% following their better-than-expected third-quarter earnings announcements.
The material has been provided by InstaForex Company -
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