Business

Nifty Settles Above 18,000; Sensex Rises 123 Points To Close Above 62,000 Mark

The Benchmark BSE Sensex recovered from early lows to close at a five-month high on Friday, led by gains in the banking and auto sectors ahead of the release of key inflation data.

The 30-share index rose 123.38 points or 0.20 percent to settle at 62,027.90, its best close since December 12, 2022.

The barometer opened lower due to early weakness in the energy, power, and IT sectors, and it reached a low of 61,578.15 in the day trade. Later, it recovered with purchases of financial and auto stocks, reaching a high of 62,110.93 points.

The broader NSE Nifty rose 17.80 points or 0.1 percent to 18,314.80 points.

Among the other gainers were IndusInd Bank, Axis Bank, SBI, HDFC Bank, ICICI Bank, HUL, Bajaj Finance, and HCL Tech.

PowerGrid was the most affected, falling 2.67 percent, followed by NTPC (2.34 percent) and Tata Steel (1.43 percent). Nestle, Sun Pharma, Infosys, L&T, Kotak Bank, TCS, and Wipro also refused.

Most Asian markets closed lower on looming concerns about US banks and weak Chinese demand. The Hang Seng in Hong Kong was down 0.5 percent, the Shanghai Composite by 1 percent, and Kospi in South Korea fell 0.7 percent. the Nikkei 225 in Japan rose 0.9 percent.

On Thursday, the US market concluded mostly in red.

The domestic inflation data for the month of April and industrial production for March are expected to be released later in the day.

Meanwhile, the global oil benchmark Brent crude fell 0.45 percent to $74.59 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers on Thursday, purchasing stocks worth Rs 837.21 crore.

Also read: California State Senate Passes Bill To Ban Caste Discrimination

Spriha Rai

Recent Posts

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

2 hours ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

3 hours ago

Gautam Adani, Family Participate In Puri Rath Yatra; Launch Massive ‘Prasad Seva’ Initiative

Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…

4 hours ago

PM Modi, Leaders Pay Tribute To Former PM PV Narasimha Rao On Birth Anniversary

PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…

4 hours ago

Gautam Adani Hails Divine Experience At Rath Yatra; Praises Odisha’s Graceful Management

Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…

4 hours ago

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

5 hours ago