After surging 500 points in the intra-day trade, the S&P BSE Sensex witnessed a sharp fall at the fag-end of the session, mainly due to profit-booking to end at 38,024, up 269 points or 0.71 per cent. Financial stocks such as HDFC Bank and ICICI Bank contributed the most to the index’s gains while Reliance Industries (RIL), ITC and Hindustan Unilever (HUL) emerged as the biggest drags.
The NSE’s benchmark index Nifty50 closed above 11,400 level at 11,427, up 84 points or 0.74 per cent. The index hit a high of 11,487 levels during the day.
Both Sensex and Nifty reclaimed their crucial levels of 38,000 and 11,400 levels, respectively in the intra-day trade after a gap of six months.
On a weekly basis, Sensex gained 3.68 per cent and Nifty added 3.54 per cent.
Market breadth remained in favour of declines as out 2,860 companies traded on BSE, 1,476 declined and 1,209 advanced while 175 remained unchanged. A total of 59 securities hit their 52-week highs while 111 scrips hit their one-year lows.
In the broader market, the S&P BSE MidCap index ended 83 points, or 0.55 per cent higher at 15,172, while the S&P BSE SmallCap index settled at 14,837, up 51 points or 0.34 per cent.
Banking barometer Nifty Bank, too hit a fresh record high of 29,520.70 during the day. It ended at 29,381.45, up over 1.50 per cent with 10 out of 12 constituents ending in the green.
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Benchmark indices rose for a seventh straight session on Friday, their longest winning streak since November 2017, on the back of gains in index heavyweights such as Reliance Industries and ICICI Bank.
Sentiment was also upbeat after retail inflation eased to a five-month low in March, but remained above the central bank’s medium-term target, supporting views that monetary policy is likely to remain unchanged at the next review in early June.
Investors now await January-March corporate results for future direction. IT Major Infosys will kick-start the March-quarter results season later in the day.
The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points.
KPIT Technologies rose for a third straight session, quoting at Rs 230.5, up 1.86% on the day as on the NSE. KPIT Technologies is up 79.24% in last one year as compared to a 14.96% gain in Nifty and a 33.16% gain in the Nifty IT index.
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The markets settled at their five-week lows as PSU banks and metal stocks tanked, while escalating tensions between the United States and North Korea continued to drive investors away from risk assets.
The Nifty PSU Bank index dipped nearly 5% after Oriental Bank, Union Bank of India and State Bank of India fell 5% each post disappointing earnings for the June quarter. Meanwhile, volatility index India VIX hit its highest in six months, suggesting market participants expect major volatility on the Nifty over the next thirty days.
Benchmark indices ended the session and the week on a negative note, with indices seeing big cuts in the day’s trade.
The Sensex closed down 317.74 points at 31213.59, while the Nifty ended lower by 109.45 points at 9710.80. The market breadth was negative as 1,003 shares advanced against a decline of 1,525 shares, while 135 shares were unchanged.
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Markets on Friday ended lower, amid weak global cues, as investors booked profits after sharp gains in the previous session which lifted the benchmarks to 18-month highs. Further, testing of a nuclear weapon by North Korea also dampened sentiment for riskier assets.
The S&P BSE Sensex ended down by 248 points at 28,797 and the Nifty50 slipped 86 points to settle at 8,867. In the broader markets, BSE Midcap and the Smallcap indices eased between 0.5%-1% each. Market breadth ended weak with 1604 losers and 1146 gainers on the BSE.
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Another week ends and we are nearing the financial year end. We at StockArchitect hope that all of you have made a lot of money during this financial year. Our motto is to help investors take an informed decision based on the collective views of others.
Here are some picks we pulled out from the week gone by.
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