Stock Market Today: Sensex, Nifty Break Five-Day Losing Streak But End Week Lower
The Nifty ended 0.19% or 42.05 points higher at 22530.70 points while the Sensex closed 0.10% or 75.71 points higher by 73961.31.
KEY HIGHLIGHTS
Rupee Weakens Against US Dollar
-The local currency weakened by 15 paise to close at 83.46 against the US dollar.
-It closed at 83.31 on Thursday.
Source: Bloomberg
Sensex, Nifty Break Five-Day Losing Streak But End Week Lower: Closing Bell
Benchmark equity indices erased most of their early losses to end marginally higher ahead of India's GDP release due later in the day. On a weekly, basis the Nifty recorded its worst fall since the week ended May 10.
The Nifty ended 0.19% or 42.05 points higher at 22530.70 points while the Sensex closed 0.10% or 75.71 points higher by 73961.31.
"Regional diversions, marginally low voter turnout and strong resistance at current range are prompting investors to adopt a cautious stance," said Vinod Nair, head of research at Geojit Financial Services." They are aligning their investments towards fundamentally strong sectors & stocks to safeguard against any abrupt reactions in the market."
On the global front, he added that the release of inflation data from the US, which are estimated to be high, could sway global market sentiment in the near-term.
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Shares of HDFC Bank Ltd., Adani Enterprises Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., and Adani Ports and Special Economic Zone Ltd. contributed the most to the gains.
While those of Infosys Ltd., Tata Consultancy Services Ltd., Maruti Suzuki Ltd., Hindustan Unilever Ltd., and Bharti Airtel Ltd. capped the upside.
Most sectoral indices ended higher with Nifty Realty and Nifty Metal leading.
The broader markets were higher as the BSE MidCap closed 0.06% higher and the BSE SmallCap ended 0.76% higher.
Six out of the 20 sectoral indices on the BSE fell. Utilities rose the most and Information Technology was the top loser.
The market breadth was skewed in the favour of sellers. Around 1,978 stocks declined, 1,845 rose, and 92 remained unchanged on the BSE.
Weekly Performance
This week, the Nifty lost 1.86%.
Rupee Weakens Sharply Against U.S. Dollar
Intraday, the local currency weakened by 15 paise to 83.46 against the U.S dollar.
It closed at 83.31 on Thursday.
Source: Exchange Filing
Adani Group Stocks Rise
Canara Bank Board Approves Fundraise
Board approves raising up to Rs 8,500 crore via debt instruments for FY25
Source: Exchange Filing
