Sensex ends 462 points higher, Nifty ends above 15,700

Sensex ends 462 points higher, Nifty ends above 15,700

The Indian market ended up higher for the second straight session on Friday due to strong global cues. Sensex rose 462 points to 52,727 and Nifty gained 142 points to 15,699. The market cap of BSE-listed firms rose to Rs 242.21 lakh crore against Rs 239.64 lakh crore in the previous session.

M&M, IndusInd Bank, Bajaj Finance and HUL Bharti Airtel were the top Sensex gainers, rising up to 4.28 per cent. Tech Mahindra, Infosys, HCL Tech and TCS were the top Sensex losers, falling to 1.03 per cent. 23 of 30 Sensex stocks ended up higher.

Shrikant Chouhan, head of equity research retail at Kotak Securities said, Post correction over past couple of weeks, equity markets ended this week with positive returns. Major key indices and most sectoral indices gained during the week. The auto sector saw a rebound despite the softening of commodity prices. On the other hand, the BSE Metal, BSE Energy and BSE Oil Gas indices underperformed the broader markets. A correction in crude oil prices from the recent peak and a softening in commodity prices gave some relief to the markets in an otherwise high global inflation environment. Monsoon progress is important to watch as a good monsoon would calm concerns with regard to food inflation. Equity markets are expected to react to news related to inflation, monetary policy and commodity price movement in the near term. Consumer durables and auto stocks were the top sectoral gainers, with their BSE indices ending 511 pts and 512 points higher.

The market breadth was positive with 2,403 stocks ending higher against 905 stocks falling on the BSE. 140 shares were the same.

In response to declining commodity prices, the domestic market maintained its positive trend, despite a firm trend in the global market. Vinod Nair, head of research at Geojit Financial Services said that the up-move was supported by broad-based buying except in IT.

Foreign institutional investors FIIs remained net sellers in the capital market as they sold shares worth Rs 2,319 crore on Thursday, as per exchange data.

In the previous session, the Indian market ended up higher, led by gains in auto and IT shares amid mixed global cues. Sensex increased 443 points to 52,265 and Nifty ended up 143 points higher at 15,556.

The rupee was at a new all-time low of 78.33 against the US dollar, and fell 1 paisa to close at a new all-time low of 78.33 today. The local currency had a high of 78.19 and a low of 78.35 against the dollar during the day.

Markets in Shanghai, Seoul, Hong Kong and Tokyo ended up with a lot of gains in Asia. European markets were trading in the green in mid-session deals. The US markets ended up in the green on Thursday.