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


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


About Author

Comments are closed.