Sensex ends choppy day with 105 points up; IT stocks are leading; Finances weigh

0

CLOSING BELL

Stock Market Highlights: Benchmarks rose on Friday as investors cheered U.S. Fed Chairman Jerome Powell’s comment that the United States may be able to avoid a “deep recession” despite aggressive rate hikes. The S&P BSE Sensex, which had erased all morning gains during the day, recovered to end at 59,793, up 105 points or 0.18%.

The Nifty50, on the other hand, came in at 17,833, 35 points or 0.19% higher. In the broader markets, the Nifty MidCap 100 added 0.35%, while the Nifty SmallCap100 edged up 0.06%.

Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI and TCS were the big winners, while Astral, Godrej Industries, Bajaj Holdings and Investments, All Cargo Logistics, Nazara Technologies and Stove Kraft were the main winners in the wider market.

On a sector basis, the Nifty IT index jumped the most, up 2%, while the Nifty Financial Services and Realty indices fell 0.5% each.


Global indices

European markets were higher on Friday as investors reacted to a record rate hike from the European Central Bank and further comments from Federal Reserve Chairman Jerome Powell. The pan-European Stoxx 600 rose 1.5% in morning trade, with all sectors trading in the green. Basic resources increased by 4.4%, while banks increased by 2.6%.

In Asia, the Nikkei gained 0.53%, the Hang Seng soared 2.7% and the Kospi gained 0.3%.

On Wall Street, futures linked to the three major indices showed a positive start later in the day.

Share.

About Author

Comments are closed.