Share market closing bell: The domestic stock market closed with a strong gain on Thursday (April 17) despite the weak trend in the US stock market due to tariff concerns. After the initial decline, the market showed a spectacular improvement in the second half.
Today, the 30 -share Sensex of BSE opened at 76,968.02 points. As they open, decline and increased. However, later it returned to the green mark. The Sensex finally closed at 78,553.20 with a strong gain of 1508.91 points or 1.96%.
Similarly, the Nifty-50 of the National Stock Exchange (NSE) also opened at 23,401.85. However, due to strength in the banking index, it came into the green sector. Finally the Nifty rose 414.45 points or 1.77% to close at 23,851.65.
On Thursday, April 17, the main reasons for the stock market boom
1. Market experts believe that the stocks oversold over the market for the last few months. But in recent times, short-coverings have started due to the news of possible softening in the global trade war.
2. Foreign Institutional Investors (FIIs) have made heavy purchases in the cash market in the last two business sessions. In the last two days, he has bought shares worth ₹ 10,000 crore. It also included the third largest single-day purchase of the calendar year on Tuesday.
3. US President Donald Trump has threatened to impose tariffs up to 245% on imported goods from China. This step is taken by China after imposing a tariff of up to 84% on American goods. The “counter -attack” is going on between the two countries on the trade front. Recently, Trump suspended him for 90 days after announcing additional tariffs on several countries. However, China was not given this discount. Analysts believe that Indian companies may benefit from the US-China trade war.
Wipro shares fall by 5%
As soon as the market opened on Thursday, IT veteran Wipro’s shares declined by 5%. The decline in the company’s shares is due to the sluggish results of January-March 2024-25. Wipro’s shares on BSE closed at Rs 233.45 at 9:37 am.
Wipro’s profit for the March 2025 quarter (FY 25 Q4) was ₹ 3,570 crore. This is 26 percent more than Rs 2,835 crore in the same quarter of the last financial year. The company’s operational revenue was Rs 22,504 crore, which is 1 percent more than Rs 22,208 crore in the same period last year.
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