Nifty end above 16350, Sensex up 632 pts today
Nifty & Sensex Today: Indian stock markets made an optimistic start on Friday mirroring solid cues from global markets. The Nifty index opened at 16296.60 levels, up by 126.45 points while Sensex made a higher opening of 418.97 points at 54671.50 levels. In the end, Indian market indexes extended their previous session gain and closed in the positive territory.
Stock Market News Today
The domestic market indexes traded in fine-fettle and gradually increased their gains on account of broad-based buying in IT, Teck, and Telecom stocks. Indian markets got some support as economic research think-tank CMIE has estimated that the labor participation rate (LPR) was higher in rural India during the period of Jan-April 2022. LPR defined as the number of people in the labor force employed as a percentage of the working-age population is 40.9 in rural India as compared to 37.4 in urban India during this period.
However, traders took note of a private report that said the Reserve Bank of India will opt for a larger, 0.50 percent hike in key rates at its next MPC meeting review in June. This is to protect medium-term economic stability to control the uncomfortable inflation situation. Besides, the government has decided to waive late fees for two months till June for delayed filing of GST returns for the financial year 2021-22 by small taxpayers registered under the composition scheme.
On the global front, the other Asian markets closed higher on Friday, taking positive cues from Wall Street and the latest earnings report in the US that suggests that the US economy remains strong despite high inflation. Alibaba and Baidu both reported higher than expected sales growth and eased investors’ worries about the economic impact of China’s Covid-19 lockdowns. European markets are trading higher tracking positive cues from US and Asian markets as investors become more comfortable with central bank efforts to control inflation.
Nifty and Sensex indexes at the close today
The Nifty index gained by 182.30 points or 1.13 percent and closed at 16352.45 levels while Sensex was up by 632.13 points or 1.17 percent and finished at 54884.66 levels. The Bank Nifty index ended higher today by 518.40 points or 1.48 percent on the spot level and ended at 35613.30
The broader markets were also gained in line with their larger peers. The Nifty midcap index gained by 376.10 points or 1.38 percent and closed at 27657.25 levels. The Nifty smallcap index closed higher by 118.80 points or 1.36 percent and finished at the 8824.05 level
Nifty top gainers and losers today
The top gainer in the Nifty 50 index was Apollo Hospital, Tech Mahindra, HDFC life, Hero Motorcorp, and IndusInd Bank whereas the top losers were ONGC, NTPC, Bharti Airtel, Power Grid, and Tata Steel
The top gainers in the Nifty midcap index were Godrej Ind, Dr. Lal Path Lab, and Indiamart, and the top losers were Oil India, Prestige Estate, and Max Financial
The smallcap top gainers were Route, Balrampur Chini, and Eid Parry and the top losers were Future Retail, Indian Cement, and GMM Pfaudler.
The most active stocks in the Nifty index in terms of value were Reliance, HDFC Bank, and INFY. The most active stocks in terms of volume were ONGC, Hindalco, and Tata Motors
On a sectoral front, barring Metal and Oil &Gas all other sectoral indices were closed in the green today. The sectors that led the rally were IT, Media, Auto Banking, and Financial Services
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