Blitz Bureau
NEW DELHI: The Indian benchmark indices roared back on August 6 after a dismal previous day, as Sensex surged more than 900 points and Nifty traded nearly 300 points up in the early morning trade.
The Indian markets opened on a higher note despite Nasdaq and S&P going down at least 3 per cent (as per US time on August 5) amid recession worries in the country as job growth slowed down.
Bharti Airtel’s shares gained in the opening trade after strong Q1 FY25 results. Bharti Airtel’s net profit swelled 158 per cent (year-on-year) to Rs 4,160 crore, beating Street expectations (due to exceptional items).
ONGC also gained 2.5 per cent despite its Q1 profit declining 43 per cent.
Meanwhile, Tokyo stocks also went up more than 10 per cent as the yen eased following steep gains against the dollar. The Nikkei shed 12.40 per cent which was the largest drop ever.
South Korean stocks also traded 3 per cent higher on Tuesday following the previous day’s worst collapse driven by US recession woes. The benchmark Korea Composite Stock Price Index (KOSPI) added 74.59 points, or 3.06 per cent. The MSCI Asia Pacific Index surged around 4 per cent after a crash of more than 6 per cent on Monday.
According to market watchers, It is important to understand that on August 6, the correction in India was relatively lower compared to most markets.
