Updates on the stock market: D-Street Bulls Charge! Nifty Above 19,800; IndusInd Up 3%; Sensex Tops 67K

As investors wait for India Inc.’s Q1FY24 earnings, benchmark indexes on Wednesday’s early trading session reached new records. The Nifty50 reached the 19,829-mark, while the S&P BSE Sensex quoted at 67,083, up 288 points.

The BSE MidCap and SmallCap indexes increased 0.3% and 0.5%, respectively, along with the benchmarks in the larger markets.

The Nifty IT index was trading higher by 0.76 percent, followed by the Nifty Bank index at 0.45 percent and the Nifty Metal index at 0.37 percent.

Shares of L&T Technology Services fell 0.3% as the business reported a 13% YoY increase in net profit to Rs 311.1 crore in the first quarter of FY24. However, operating revenue increased by 14.7% YoY to Rs 2,301 crore.

Shares of Polycab India rose more than 3% as the firm reported a first-quarter profit increase of 82% YoY, led by stronger sales in its core wires and cables sector.

World cues

On Wednesday, Tokyo markets began higher, helped by gains on Wall Street after strong financial profits.Early trading saw gains of 0.99 percent, or 322.87 points, for the benchmark Nikkei 225 index and 0.99 percent, or 22.41 points, for the larger Topix index.

US equities rose on Tuesday, spurred in part by a string of strong bank profits that helped the Dow set a record for the longest winning run in more than two years.