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Stock impact report

Indian shares log third straight month of gains on strong quarterly results [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
Blue-chip indexes Nifty 50 settled 0.2% lower to 22,604.85 points and the S&P BSE Sensex declined 0.3% to end at 74,482.78. However, the benchmarks logged 1.2% and 1.1% gains each during the month as behemoth companies, including Reliance Industries , ICICI Bank and Wipro reported strong results. The market sentiment looks positive, with most companies reporting strong quarterly profit numbers, said Anita Gandhi, founder and head of institution at Arihant Capital Markets. During the session, the Nifty IT index fell 1.1% to lead losses in the benchmark index as investors awaited the Federal Reserve's policy meeting, scheduled later in the day, to determine if the U.S. central bank will keep rates unchanged for longer or introduce cuts. Markets are pricing in a 97.3% chance of the Fed keeping rates unchanged in May 2024, according to the , compared with a 90.7% chance at the end of March. However, the most-weighted sub-index - Nifty financials , extended an upward rally - up Show less Read more
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