Stock Market Today: Nifty, Sensex Rally Nearly 3% During Two Consecutive Week Of Gains
The Nifty ended 0.91% or 216.95 points higher at 24131.10 and Sensex closed 0.96% or 759.05 points up at 79802.79.
KEY HIGHLIGHTS
Events, Economic Data Later Friday
Europe: Core CPI Flash Estimate EUR
Europe: CPI Flash Estimate
Europe: Italian Prelim CPI m/m
UK: BOE Financial Stability Report
UK: FPC Meeting Minutes
UK: FPC Statement
UK: BOE Gov Bailey Speaks
Europe: German Buba President Nagel Speaks
Nifty, Sensex Rally Nearly 3% During Two Consecutive Week Of Gains: Closing Bell
Benchmark equity indices gained for a second consecutive week adding nearly 3% in two weeks. Share prices Adani Enterprises and Bharat Electronics added over 10% this week.
On Friday, both the indices recovered from their steep falls in the previous session as Airtel and Reliance share contributed the most. They had witnessed steepest intraday fall in over last three weeks on Thursday.
Globally, investors will look forward to key inflation data from Europe along with UK's financial policy committee meeting. Intraday, the both Nifty and Sensex rose 1.1%.
The Nifty ended 0.91% or 216.95 points higher at 24131.10 and Sensex closed 0.96% or 759.05 points up at 79802.79.
"The Indian market is increasingly witnessing severe bouts of volatile trading, as the gyration from positive to negative zones has been very sharp owing to stretched valuation concerns and the lingering selloffs from foreign investors," said Prashanth Tapse, senior VP (Research), Mehta Equities Ltd. "Despite the recovery, there is no firm trend visible due to lack of fresh positive triggers. For the up move to sustain, FII offloading of Indian shares needs to cool down before we see any signs of an upward bias."
Share prices of Bharti Airtel Ltd., Reliance Industries Ltd., ICICI Bank Ltd., Mahindra & Mahindra Ltd., and Larsen & Toubro Ltd. contributed the most to the gains.
While those Powergrid, Shriram Finance Ltd., Hero MotoCorp Ltd., HDFC Life Insurance Co. Ltd., and Nestle India Ltd., capped the upside.
Market breadth was skewed in the favour of buyers. As many as 2,340 stocks rose, 1,613 fell, and 97 remained unchanged on the BSE.
BSE MidCap and BSE SmallCap have both underperformed in the broader market category MidCap rose 0.31% and SmallCap rose 0.76% compared to 0.85% advance in Nifty 50.
Except BSE Realty, rest 20 sectoral indices rose. BSE Healthcare rose the most.
Weekly Performance
This week, both Nifty and Sensex rose 0.9%. Nifty Media rose the most and Nifty Auto and Nifty IT fell.
Rupee Ends Flat Against US Dollar
-Rupee closed flat at 84.49 against the US dollar.
-It closed at 84.49 on Thursday.
Source: Bloomberg
Markets At Close
Nifty and Sensex ended higher for a second consecutive week
Both the indices have gained nearly 3% in two weeks of gains
Intraday, both Nifty and Sensex rose over 1%
Nifty ended 0.91% or 216.95 points higher at 24131.10
Sensex ends 0.96% or 759.05 points up at 79802.79
Nifty Midcap 100 underperformed and ended 0.16% up and Nifty Smallcap 250 closed 0.8% higher
Most sectoral indices rose with Nifty Pharma gaining the most
Bharti Airtel & Cipla were top Nifty gainers
Power Grid and Shriram Finance fell the most
Gold Price Up On Russia-Ukraine Jitters But Set For Weekly Slip: Time To Buy? Experts Weigh-In
Gold prices are edging higher in the aftermath of Russia's strikes on Ukraine's energy infrastructure, that led to widespread power cuts in the country.
Spot gold was trading nearly 1% higher at $2,662.3 an ounce at 7:15 a.m. (GMT) on Friday. The uptick in global rates also led to a climb in the Indian gold futures on Multi Commodity Exchange, as the December contracts were trading 0.83% higher at Rs 76,350 per 10 gram at 12:48 p.m.
