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Sensex surges 905 points as Fed pause and crude dip spark rally
Indian equities closed sharply higher on Thursday, with the Sensex jumping 905 points and the Nifty ending above 22,900, driven by the Federal Reserve's pause on rate hikes and a decline in crude oil prices. Adani Ports, Kotak Bank, Adani Enterprises, Trent, and Maruti Suzuki emerged as top gainers, while the broader market rallied across sectors. The indices settled at their day's highs, reflecting strong bullish sentiment.
ITC Hotels Q2 profit jumps 52% to ₹203 crore, shares surge 8%
ITC Hotels reported a 52% year-on-year jump in Q2 net profit to ₹202.65 crore, with revenue at ₹1,054 crore and RevPAR up 21%. Shares rose as much as 8% as margins widened, with multiple outlets confirming the profit beat and strong operational metrics.
Nestle India Q2 profit jumps 36% to Rs 1,027 crore as stock falls 8%
Nestle India reported a 36% year-on-year jump in standalone net profit to Rs 1,027 crore for Q2, with revenue rising 20%. Despite the strong numbers, the stock crashed up to 9% intraday as investors reacted to underlying concerns. The results were announced alongside other companies including Wipro and Tech Mahindra.
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