The 30-share BSE Sensex dropped 73.79 points to 60,575.59 after the dip. The NSE Nifty index as a whole fell 17.85 points to 17,897.20. Following a four-day market rise, investors chose to stay put as equity benchmark indexes sank in Friday’s opening session, which was extremely turbulent.
The 30-share BSE Sensex dropped 73.79 points to 60,575.59 after the dip. The NSE Nifty index as a whole fell 17.85 points to 17,897.20. Among the companies covered by the Sensex, Asian Paints, Bajaj Finserv, Axis Bank, IndusInd Bank, Hindustan Unilever, Power Grid, Bajaj Finance, and Kotak Mahindra Bank were the top laggards.
Among the winners were Wipro, Tech Mahindra, Tata Consultancy Services, Sun Pharma, and Reliance Industries. Seoul traded down on Asian markets, while Japan, Shanghai, and Hong Kong quoted higher. On Thursday, the US stock markets had seen huge gains.
The big US indices recovered dramatically from the recent decline to end considerably higher in overnight trades, while the SGX Nifty has been experiencing sharp gyrations. According to the recent rise, there is a potential that the Nifty may retake the symbolic 18,000-point level.
Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd said in his pre-market opening quote: “FII purchase of local shares has also persisted; they acquired shares to the tune of 1,653 crores in yesterday’s trading. A slowdown in crude oil prices below $80 per barrel is positive for India’s economy.
He added that profit-taking may be imminent given the continued great gloom of the global macroeconomic outlook and the recent rapid rise in local markets. The BSE benchmark increased 348.80 points or 0.58 percent on Thursday to close at 60,649.38.
The Nifty increased 101.45 points or 0.57 percentage points to close at 17,915.05. Brent crude, the benchmark for all crude oil, increased 0.41% to USD 78.69 per barrel. According to exchange data, foreign institutional investors (FIIs) purchased shares of stock on Thursday totaling 1,652.95 crores.
With a gain of 2.89%, Wipro led the pack of gainers on the Sensex, followed by Nestle, SBI, Larsen & Toubro, and ITC. The Nifty finished over the 18k milestone on Friday, driven by strong buying in index giants Reliance Industries and ITC amid fresh foreign fund inflows. The equity benchmark Sensex rose over 460 points to reclaim the 61,000 mark.
The 30-share BSE Sensex increased 463.06 points or 0.76 percent to close at 61,112.44, rallying for the sixth session in a row. It increased by 560.08 points or 0.92 percent throughout the day to reach 61,209.46. The larger NSE Nifty finished at 18,065 up 149.95 points or 0.84 percent.
Wipro, State Bank of India, Larsen & Toubro, ITC, Tech Mahindra, Reliance Industries, Kotak Mahindra Bank, and Bajaj Finance were the top gainers in the Sensex pack with gains of 2.89 percent each.
The main laggards, which had declines of up to 2.39 percent, were Axis Bank, HCL Technologies, Titan, Hindustan Unilever, Bajaj Finserv, and ICICI Bank. Seoul, Japan, Shanghai, and Hong Kong saw positive closing prices in Asian markets.
European stock markets were trading at a lower level. On Thursday, the US stock markets saw huge gains. The BSE benchmark increased 348.80 points or 0.58 percent on Thursday to close at 60,649.38. The Nifty finished at 17,915.05. It had gained 101.45 points or 0.57 percent.
