Plus   Neg

Sensex, Nifty End Up Around 1%

Indian shares rebounded from their worst fall in over a month on Wednesday as the U.S. announced a delay in the implementation of tariffs on some Chinese products and a lower than expected wholesale price index reading for July raised hopes of further cuts in interest rates going forward.

India's wholesale inflation eased to a 25-month low of 1.08 percent in July, from 2.02 percent in the previous month, while retail inflation eased marginally in July to 3.15 percent, separate reports showed.

The benchmark S&P BSE Sensex jumped 353.37 points or 0.96 percent to 37,311.53 while the broader NSE Nifty index ended up 103.55 points or 0.95 percent at 11,029.40.

Grasim Industries rallied 3.6 percent despite the company reporting 69 percent fall in its Q1 standalone net profit.

Yes Bank surged over 4 percent and Bajaj Finance rallied 2.1 percent after steep losses in the previous session.

Heavyweight Reliance Industries rose over 1 percent to extend Tuesday's 10 percent gain.

Coffee Day Enterprises tumbled 5 percent. The Times of India reported that Blackstone, along with Bangalore-based developer Salarpuria Sattva, is acquiring its real estate venture Tanglin Developments, which owns a technology park in Bengaluru, for Rs 3,000 crore.

Pharma stocks fell, with Dr Reddy's Laboratories, Sun Pharma and Glenmark losing 2-8 percent.

Globally, Asian markets ended mostly higher after the Trump administration delayed imposing tariffs on certain Chinese products from September 1 and also removed some products from the tariff list, citing health, safety, national security and other factors.

European stocks retreated as weak data from China and Germany overshadowed investor optimism over the temporary U.S.-China tariff truce.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT