Key indices of the domestic equities market continued with gains for the second consecutive day, tracking mixed global cues. A possibility of a deal for the US debt ceiling issue and better-than-estimate corporate earnings seemed to lift investors’ sentiments as heavyweight Reliance Industries went up 2.82 per cent on Friday.
According to data available, both the Nifty and Sensex logged weekly gains of over 1 per cent and jumped to their highest levels since December 2022. The uptick seen during the week was across market caps and sectors. BSE 30-share Sensex went up 629 points to 62,501.69 and NSE Nifty 50 surged 178 points to 18,499.35. All sectoral indices post gains on Friday with metal, pharma and IT gaining the most. HDFC, HDFC Bank, Grasim, Tata Motors and ONGC were top Nifty losers.
Muthoot Finance, Balkrishna, Bandhan, Info Edge and Indus Towers are top Midcap gainers.
According to BSE, the shares of Reliance Industries closed on Friday with 2.82 per cent increase to Rs 2,508.80. Reliance Industries’ subsidiary Reliance Retail Ventures on Thursday said it completed the acquisition of 51 per cent controlling stake in Lotus Chocolate Company. HDFC twins were trading in the red when the markets shut down. In the Asian markets, Hong Kong’s Hang Seng lost 369 points, Japan’s Nikkei gained 115 points, China’s Shanghai surged 11 points, S&P ASX gained 14 points and Thailand Set lost 5 points on Friday.
This story is from the May 27, 2023 edition of The Business Guardian.
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This story is from the May 27, 2023 edition of The Business Guardian.
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