At close, BSE Sensex was trading 463.06 points higher at 61,112.44 and Nifty50 was trading 149.95 points higher at 18,065.00
New Delhi: Indian indices have ended the trading week on a positive note. Both Sensex and Nifty closed in green throughout the week. The indices opened Friday higher despite apprehensions of a volatile opening as SGX Nifty witnessed sharp gyration even as key US indices bounced back sharply from the recent slump to end sharply higher in overnight trades.
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Sensex opened today at 60,721.61, climbed up to 61,209.46 and fell down to 60,507.83 during the day’s trade; Nifty meanwhile, opened at 17,950.40, touched a high of 18,089.15 and a low of 17,885.60 during the day’s trade.
At close, BSE Sensex was trading 463.06 points higher at 61,112.44 and Nifty50 was trading 149.95 points higher at 18,065.00
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Daily Market Commentary By Rajesh Sinha, Sr. Research Analyst, BONANZA PORTFOLIO LTD:
- During the day, the Government has opened a fresh window to import 140 tones of gold from the United Arab Emirates at a concessional rate agreed under the India-UAE Comprehensive Economic Partnership Agreement for 2023-24.
- According to the Finance Ministry of India, Government is confident of meeting its fiscal deficit target this financial year despite any pre-election expenditure increases as food, and fertilizer subsidies won’t exceed the budgeted amount and revenue targets are easily achievable.
- The Board of Directors of Wipro has approved the buyback of equity shares worth Rs 12,000 crore from shareholders. The company plans to buy up to 26,96,62,921 equity shares 4.91% of the total number of equity shares on a proportionate basis by way of a tender offer at a price of Rs. 445 per equity share.
- The US economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced inventories.
- Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand.
- Gold prices were poised for a second monthly gain on Friday as lingering economic concerns and a weaker dollar drove investors to the safe-haven asset, with markets now focused on the federal Reserve’s meeting due next month.
- On the sectoral front, except for Consumer Durable all other indices end in green with PS gaining the most.
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SENSEX TOP GAINERS
- Wipro: 2.89 per cent
- NestleInd: 2.77 per cent
- SBIN: 2.32 per cent
- L&T: 2.24 per cent
- ITC: 2.24 per cent
- Tech M: 1.95 per cent
- Reliance: 1.80 per cent
- Bharti Airtel: 1.62 per cent
SENSEX TOP LOSERS
- Axis Bank: -2.39 per cent
- HCL Tech: -0.75 per cent
- Titan: -0.70 per cent
- HUL: -0.56 per cent
- Bajaj Finserv: -0.49 per cent
- ICICI Bank: -0.09 per cent
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NIFTY TOP GAINERS
- Adani Enterprises: 3.72 per cent
- Adani Ports: 3.22 per cent
- Nestle Ind: 2.85 per cent
- Wipro: 2.75 per cent
- Britannia: 2.66 per cent
- ITC: 2.45 per cent
- HDFC Life: 2.43 per cent
NIFTY TOP LOSERS
- Axis Bank: -2.43 per cent
- Titan: -0.99 per cent
- ONGC: -0.84 per cent
- JSW Steel: -0.75 per cent
- Cipla: -0.55 per cent
- Bajaj Finserv: -0.44 per cent
- HUL: -0.44 per cent
