Stock Market Today: Sensex, Nifty Gain Over 1% This Week As Wipro, M&M Jumps Nearly 11%
The Nifty closed at 22,032.60, up 121.85 points or 0.56% and the Sensex gained 365.84 points or 0.51% to close at 72,416.22.
KEY HIGHLIGHTS
Rupee Strengthens Against U.S. Dollar
-The local currency strengthened by 2 paise to close at 83.02 against the U.S. Dollar.
-It closed at 83.04 on Thursday.
Source: Bloomberg
Sensex, Nifty Gain Over 1% This Week As Wipro, M&M Jumps Nearly 11%: Closing Bell
Benchmark equity indices gained more than 1% this week with shares of Mahindra & Mahindra and Wipro adding around 11%.
The indices closed higher in the fourth consecutive session today with shares of L&T, Infosys, and M&M contributing the most.
The Nifty closed at 22,032.60, up 121.85 points or 0.56% and the Sensex gained 365.84 points or 0.51% to close at 72,416.22. Intraday, the Nifty rose 0.72% and the Sensex gained 0.69%.
Shrikant Chouhan, head of equity research at Kotak Securities said, "Market confidence was firm last week, even as: (1) US CPI data came above expectations and (2) US bond yields increased in the aftermath. Meanwhile, the 3QFY24 earnings season tracked in line with expectations on an aggregate basis."
He added, "Going forward, D-street will focus on the macro trends. Markets going ahead may be dominated by global news flows and steps taken by different governments to tackle their economy."
The NSE Nifty 50 index rose 1.19% this week, while the S&P BSE Sensex gained 1.6%
Shares of Larsen & Toubro Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., ICICI Bank Ltd., and HDFC Bank Ltd. contributed the most to the gains.
Meanwhile, those of Reliance Industries Ltd., Power Grid Corp Ltd., State Bank Of India, Axis Bank, and Oil & Natural Gas Corp Ltd., capped the upside.
Most sectoral indices ended with gains this week except Nifty FMCG, Nifty Media, and Nifty Metal.
The broader markets rose in line with the benchmark indices. The S&P BSE Midcap gained 0.78%, and the S&P BSE Smallcap rose 0.68%.
On BSE, 16 out of 20 sectors rose, while four declined. The S&P BSE Auto surged the most among sectoral indices. The S&P BSE Utilities fell the most among sectoral indices.
The market breadth was skewed in favour of the buyers. About 2,198 stocks rose, 1,644 declined, and 93 remained unchanged on the BSE.
SpiceJet MD Ajay Singh On GoFirst Bid
Firmly believe GoFirst holds immense potential & can be revitalised to work with SpiceJet
Bid for GoFirst will benefit both SpiceJet and GoFirst
Happy to contribute for leveraging GoFirst's strengths for mutual growth and success
Source: Exchange filing
SpiceJet Ajay Singh & Busy Bee Airways Submit Bid For GoFirst
SpiceJet to serve as operating partner for the new airline providing staff & services
Ajay Singh has submitted the bid in his personal capacity along with Big Bee Airways
Note: Ajay Singh is the Chairman & MD of Spicejet
Source: Exchange filing
Zydus Life Get's U.S. FDA's Final Nod For Isosorbide Mononitrate Tablets
Gets USFDA's final nod for Isosorbide Mononitrate Extended-Release, Tablets USP, 30 mg, 60 mg,120 mg
Isosorbide Mononitrate is used to prevent chest pain in patients
Source: Exchange Filing
