The stock market ended up higher on Friday, as positive global cues led to positive global cues. Sensex increased 130 points to 59,462 and Nifty closed 40 points higher at 17,699. 13 of 30 Sensex stocks ended in the green. NTPC, Tata Steel and PowerGrid were the top Sensex gainers, rising to 3.26 per cent.
Infosys, Maruti Suzuki and L&T were the top Sensex losers, falling up to 1.56 per cent.
Vinod Nair, Head of Research at Geojit Financial Services said that the return of FIIs and declining dollar index aided the market rally. While Metals and Oil Gas garnered buying interest, IT and pharma weighed on sentiments. Oil and gas stocks were in focus as the government shifted some natural gas from industries to city gas operators in an effort to reduce the prices of CNG and piped cooking gas Mid-cap and small-cap indices on the BSE gained 37 points and 108 points, respectively. Metal and oil and gas stocks were the top gainers with their BSE indices zooming 334 points and 476 pts, respectively.
With 1,809 stocks ending higher against 1,581 stocks falling on the BSE, the market breadth was positive. 153 shares were unchanged.
After a highly volatile session, the Indian market ended in positive, according to Arijit Malakar, head of retail research at Ashika Group. The market was volatile today, as the market followed the mixed global cues and ahead of retail inflation data which is going to be out at the end of the day. India is expected to have the fastest economic growth of any nation in the world in 2022 despite rising inflation, bringing back investor confidence in the market. Foreign investors have been net buyers in the Indian market since the middle of July. The market is likely to be driven in the near term due to the decline in US inflation and the expectation of less hawkish stance by the US Federal Reserve. The rupee has been helped by constant buying from foreign investors and has helped improve the macro dynamics. Foreign institutional investors bought shares worth Rs 2,298, as they remained net buyers in the capital markets. According to exchange data, 08 crore was on Thursday.
The stock market ended up higher on Thursday, as positive global cues led to positive global cues. The Sensex went up 515 points to 59,332 and Nifty was 106 points higher at 17,640.
European shares opened higher after a mixed day in Asia on Friday after another encouraging report on US inflation.
Britain's FTSE 100 gained 0.6 per cent to 7,507. 81 and the DAX in Germany increased by 0.6 per cent to 13,775. The CAC 40 added 0.5 per cent to 6,574 in Paris. In Asia, the Nikkei 225 added 2.6 per cent to 28,546. Seoul's Kospi was 0.2 per cent higher, to 2,527. 94 and the Hang Seng in Hong Kong went up 0.4 per cent to 20,175.