Indian Equities Extend Gains for Fourth Day on Buying in Select Sectors

MT Newswires Live
Apr 07

Indian equity benchmarks closed higher on Tuesday despite ongoing geopolitical tensions and continued foreign outflows.

Gains were led by buying in select sectors, including IT, FMCG, and metal stocks.

The BSE Sensex rose 509.73 points, or 0.7%, to end at 74,616.58, while the NSE Nifty 50 gained 155.40 points, or also 0.7%, to settle at 23,123.65.

Strength in the rupee and buying in oversold stocks supported the upward movement of the indices. Reports of diplomatic efforts to ease tensions between the U.S. and Iran also aided sentiment.

In corporate developments, Lodha Developers (NSE:LODHA, BOM:543287) reported a 23% year-on-year rise in pre-sales to 58.9 billion rupees in the fiscal fourth quarter.

Separately, Alembic Pharmaceuticals (NSE:APLLTD, BOM:533573) received final approval from the U.S. Food and Drug Administration for its Dapagliflozin tablets in 5 mg and 10 mg strengths. The product is used to lower the risk of hospitalization for heart failure in adults with type 2 diabetes.

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