Sensex Rises 650 pts, Nifty Reclaims 16,000; Tata Motors Rallies 8%; 5 Points

After closing at a 9-week low in the previous session, key benchmark indices opened in the green on Friday tracking gains in US equity futures and firm Asian markets. At 09:16 IST, the Sensex was up 480.23 points or 0.91 per cent at 53410.54, and the Nifty up 164.30 points or 1.04 per cent at 15972.30. About 1486 shares have advanced, 397 shares declined, and 72 shares are unchanged.

Top Gainers And Losers

Among the Sensex-30 shares, Sun Pharma, Dr Reddy’s, Titan, Bajaj Twins, IndusInd Bank, Tata Steel, SBI, ITC, M&M, Tech M and Reliance were the top gainers, up to 3 per cent higher. Tata Motors, UPL, Apollo Hospitals, and Coal India were the additional winners on Nifty.

On the flip side, Bharti Airtel, L&T, TCS, NTPC and SBI Life were the handful of losers on the two benchmarks.

All Sectors In The Green

The broader markets also advanced decently, with the BSE MidCap and SmallCap indices rising up to 2 per cent. Sectorally, Metals, Auto, Media and Pharma indices on the Nifty led gains, rising upto 2 per cent. Remaining pockets were also firmly in green. Nifty IT, Banks, Realty, Energy and FMCG were all up 1 per cent each.

Among stocks, Adani Power and Tata Elxsi gained 5 per cent and 8 per cent, respectively, on account of their additon to the MSCI Standard index.

Siemens, on the other hand, slipped 3 per cent. The company reported a flat growth in Q4 net profit at Rs 328.90 crore in the quarter ended March 2022 as against Rs 328.30 crore in the year ago period.

Global Cues

Another erratic day of trading on Wall Street ended with an uneven finish for the major stock indexes Thursday, after the market reversed most of an early slide in the final hour of trading. The S&P 500 closed only 0.1 per cent lower after having been down 1.9 per cent earlier in the day. The Dow Jones Industrial Average fell 0.3 per cent, while the Nasdaq rose 0.1 per cent. The S&P 500 fell 5.10 points to 3,930.08. The Dow dropped 103.81 points to 31,730.30. The Nasdaq rose 6.73 points to 11,370.96.

Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.15 per cent, trimming its losses for the week to around 3.5 per cent. Australian shares were up 1.56 per cent, while Japan’s Nikkei stock index jumped 2.62 per cent. In China, the blue-chip CSI300 index was up 0.92 per cent and Hong Kong’s Hang Seng rose 1.8 per cent.

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