Sensex climbs 157 pts, Nifty tops 17,300; Nifty Metal Index up 3%, FMCGs down

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Equity Market Highlights: Equity markets were volatile on Thursday as investors adjusted their positions due to the weekly F&O expiry. The S&P BSE Sensex hovered in a narrow range of 405 points, before closing at 58,222, up 157 points or 0.27%.

The Nifty50, on the other hand, closed at 17,332, up 58 points or 0.33%. JSW Steel, Hindalco, Coal India, L&T, Tata Steel, ICICI Bank, HCL Tech, Axis Bank, Tata Motors, Tata Consumer Products, Shree Cement and Wipro were the top gainers, up 1-5%.

In contrast, Bharti Airtel, HUL, HDFC, IndusInd Bank, Divis Labs, SBI Life, Britannia, HDFC Bank and Bajaj Finance were the main laggards, down 2.5%.

In the broader markets, the BSE MidCap index gained 1% and the BSE SmallCap index rose 1.3%. Among sectors, the Nifty Metal Index rose more than 3.4%, while the Nifty Pharma and FMCG indices posted profits slipping as much as 0.5%.

Brent at $100 again?

OPEC+’s decision to cut crude oil production by 2 million barrels per day (bpd), or 2% of global supply, is expected to push oil prices up further, with Brent likely to rise above the mark of $100 a barrel – up nearly 7.5 percent from current levels, analysts said. The new production caps come into effect from November 2022 and will remain so until December 2023. READ MORE

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