• Source:JND
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Stock Market Closing:  The domestic benchmark indices continued the winning streak for the fourth consecutive day as the stock market ended the day trading higher. Sensex closed at 74,339.44, up 0.66 percent or 486.50 points. While Nifty 50 closed at 22,570.35, up by 167.95 points or 0.75 percent higher. 

Axis Bank emerged as the leader of the Sensex pack and jumped 6 percent after the company reported a consolidated net profit of Rs 7,599 crore for the March 2024 quarter. Other major gainers included NTPC, Nestle, Sun Pharma, State Bank of India, Mahindra & Mahindra, JSW Steel, ITC, and HCL Technologies.

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Meanwhile, Kotak Mahindra Bank fell 10.85 percent after the Reserve Bank of India barred the company from onboarding customers online and issuing credit cards. The RBI took stern action against the bank for repeated non-compliance with IT norms. The regulator found "serious deficiencies" in the lender's IT risk management, and barred the bank from adding new customers through its online and mobile banking channels and issuing new credit cards with immediate effect.

Bajaj Finance, Hindustan Unilever, Titan, Asian Paints, and Maruti were the other laggards.

In Asian markets, Seoul and Tokyo closed lower, while Shanghai and Hong Kong closed in positive territory. European markets were trading on a mixed note. Wall Street ended Wednesday with a mixed trend.

The global oil benchmark Brent crude rose 0.06 percent to US$88.07 per barrel. Foreign institutional investors (FIIs) sold equities worth Rs 2,511.74 crore on Wednesday, as per exchange data. On Wednesday, the BSE benchmark closed 114.49 points or 0.16 percent higher at 73,852.94. The NSE Nifty rose 34.40 points or 0.15 percent to 22,402.40.

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(With PTI's Input)