The key benchmarks indices ended with substantial gains on Wednesday, investors expects good Q4 earnings season. The Nifty closed above 22,750 mark. Media, PSU bank and oil & gas shares advanced while pharma and auto shares declined. Trading was volatile due to the expiry of weekly index options on the NSE.

As per provisional closing data, the barometer index, the S&P BSE Sensex, was up 354.45 points or 0.47% to 75,038.15. The Nifty 50 index added 111.05 points or 0.49% to 22,753.80.

The Nifty and Bank Nifty clocked a new all-time high of 22,775.70 and 49,057.40, respectively in today's intraday session.

In the broader market, the S&P BSE Mid-Cap index added 0.89% and the S&P BSE Small-Cap index rose 0.46%.

The market breadth was positive. On the BSE, 1,961 shares rose and 1,867 shares fell. A total of 105 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.17% to 11.11.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.

Buzzing Index:

The Nifty Media index advanced 1.80% to 1,911.35. The index fell 2.50% in past four trading sessions.

Sun TV Network (up 5.87%), Zee Entertainment Enterprises (up 2.53%), PVR Inox (up 1.93%), Hathway Cable & Datacom (up 1.4%), Saregama India (up 0.92%) and Tips Industries (up 0.15%) advanced.

On the other hand, Dish TV India (down 0.8%), TV18 Broadcast (down 0.73%) and Network 18 Media & Investments (down 0.56%) edged lower.

Stocks in Spotlight:

Tata Motors rose 0.62%. The company?s global wholesales in Q4 FY24, including Jaguar Land Rover was at 3,77,432 units, rising 8% as compared to Q4 FY23.

Avenue Supermarts rose 0.55%. The company has opened a new store at Vaishnavi Sapphire Mall, Bengaluru (Karnataka). The total number of stores as on date stands at 366.

Oriana Power zoomed 15.58% after the construction engineering firm announced that it has received a solar power plant project of 76.62 MW (AC) from Jodhpur Vidyut Vitran Nigam, Churu, Rajasthan.

PB Fintech advanced 2.81% after the wholly-owned subsidiary of the company by the name of ?PB Pay? has been incorporated vide Certificate of Incorporation issued by Registrar of Companies, Central Registration Centre, Ministry of Corporate Affairs dated 9 April 2024.

Lemon Tree Hotels added 2.36% after the company announced their entry into Nepal with the opening of Lemon Tree Premier at Budhanilkantha, Kathmandu.

Paisalo Digital rallied 4.37% after the company?s assets under management (AUM) grew by 32% to approximately Rs 4,622 crore as of 31 March 2024 as compared to Rs 3,492 crore as of 31 March 2023.

RattanIndia Power fell 2.43%. The company announced that Manish Ratnakar will take over the position of chief financial officer (CFO) and key management personnel (KMP) from Ankur Mitra effective from closing business hours of 9 April 2024.

Gensol Engineering added 1.02% after the company reported a robust order book of Rs 1,783 crore at the beginning of FY25.

Shyam Metalics and Energy added 1.49% after the company established a new stainless steel hot rolled coils (HRC) facility at its existing plant in Sambalpur, Odisha as a part of its expansion plan.

One 97 Communications declined 1.57%. The company said that its associate entity, Paytm Payments Bank?s (PPBL) managing director and CEO (MD& CEO) Surinder Chawla has tendered his resignation on 8 April 2024, on account of personal reasons and to explore better career prospects.

Exide Industries shed 0.27%. The company has entered into an agreement for acquiring 26% equity stake in Clean Max Arcadia Private Limited, a Special Purpose Vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions Pvt Ltd. for generation and supply of solar power.

Global Markets:

European stocks traded higher while Asian stocks ended mixed on Wednesday as of Japan?s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand?s central banks.

South Korea?s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan?s corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February.

U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week. The widely watched report on March's consumer-price index is due on Wednesday.

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