Sensex, Nifty end higher amid volatile trade as India-Pak tension persists; Cochin Shipyard ends in red
Shares of Cochin Shipyard closed 1.70 per cent lower at ₹1,457
Shares of Cochin Shipyard closed 1.70 per cent lower at ₹1,457
Shares of Cochin Shipyard closed 1.70 per cent lower at ₹1,457
India’s benchmark indices, Sensex and Nifty, ended higher on Wednesday following missile strikes by India on terror targets in Pakistan and Pakistan-occupied Kashmir. The Sensex closed 105 points up at 80,764, while the Nifty50 gained 34 points to settle at 24,414.40.
The Indian armed forces carried out strikes on terror targets around midnight, prompting a cautious reaction from the equity markets. Though benchmark indices opened lower, they quickly recovered and posted gains during the session. However, heightened volatility persisted throughout the day as investors weighed the broader implications of the military action.
Tata Motors, PayTM, Polycab, MRF, Samvardhana, Reliance Power, and Bharat Seats were among the top gainers of the day. Auto stocks also saw a significant boost, helped by the Free Trade Agreement signed between India and the UK.
Meanwhile, defence stocks saw a sharp decline following the strikes. Shares of Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics traded lower, while BEML edged up by 0.80 per cent. Shipbuilding stocks also slipped. Defence stocks had rallied significantly after the Pahalgam terror attack, and investors appeared to book profits in the wake of latest developments.
Kerala Companies mixed, Cochin Shipyard ends lower
Shares of Cochin Shipyard closed 1.70 per cent lower at ₹1,457, after rising to an intraday high of ₹1,535. Investor profit-booking amid uncertainty following India’s military strike kept the stock in the red by market close.
Kerala based financial firms ended mostly in the green, with Muthoot Finance, Federal Bank, and Manappuram Finance posting gains. Manappuram closed 1.28 per cent higher at ₹230.69, as investors positioned themselves ahead of its financial results due on Friday. However, Dhanlaxmi Bank and ESAF Small Finance Bank bucked the trend, closing lower by 0.48 per cent and 0.84 per cent respectively.
Meanwhile, Kitex Garments was in the upper circuit, ending the day at ₹241.05, while Kalyan Jewellers closed 4.16 per cent higher at ₹523.1.