Sensex soars 900 points, Nifty ends near 17,600; PSBs, Adani Group stocks sizzle


Domestic markets rallied smartly in trades on Friday, as positive global cues coupled with the Rs 15,446 crore stake buy by GQG Partners in Adani Group boosted sentiment. The Group shares along with PSU Banks and select index heavyweights were the major gainers.

The S&P BSE Sensex soared to a high of 59,967, and ended with a gain of 900 points at 59,809. In the process, the BSE benchmark was up 345 points for the week.

The NSE Nifty 50 touched a high of 17,645, before signing-off at 17,594 – up 272 points. The Nifty was up 128 points for the week.

The positive sentiment had a spillover effect on PSU Banks. The Nifty PSU Bank index soared 5.4 per cent to 3,970. UCO Bank and Union Bank galloped over 8 per cent each. Maharashtra Bank, Punjab & Sind Bank, Indian Overseas Bank, Bank of India and Indian Bank rallied over 6 per cent each. SBI and Canara Bank vaulted over 5 per cent each.

Continue Reading


Sensex up 4.4% in 2022; ends last trading day 293 points lower at 60,841


After starting on an optimistic note, given the positive mood in global markets, the S&P BSE Sensex rallied to a high of 61393 in Friday’s morning trades. The benchmark index, thereafter, pared gains and slipped into the negative zone as the day progressed owing to weakness in index heavyweights ICICI Bank and HDFC twins.

A heavy bout of selling in late trade, saw the BSE index plunge to a low of 60,744 – down 293 points from the day’s high. The Sensex finally ended the day with a loss of 293 points at 60,841.

Despite the day’s loss, the BSE benchmark managed to gain 1.7 per cent this week, and also signed off the year 2022 on a winning note – 4.4 per cent higher.

The NSE Nifty 50 settled 86 points lower on the last trading day of the year, but was up 1.7 per cent this week and 4.3 per cent in 2022.

The broader markets outperformed the benchmark indices in trade today. The BSE Midcap index gained 0.4 per cent, while the Smallcap index advanced 0.8 per cent. The overall market breadth too was fairly positive, with nearly 2,200 advancing shares versus 1,300-odd declining stocks on the BSE.

In contrast the day’s performance, the broader indices were underperformers in the year 2022. The BSE Midcap index finished with a gain of 1.4 per cent as against the Sensex gain of 4.4 per cent. The Smallcap index was down 1.8 per cent for the year.

Sectorally, the BSE Consumer Durables index moved 0.8 per cent higher in trades on Friday. The Metal and Realty indices were the ofther notable gainers. On the other hand, FMCG, Power and Bankex finished in the negative zone.

Continue Reading



Nifty ends below 9,600, down almost 1% for the week; Nifty IT slips 0.8%


Benchmark indices swung between gains and losses on Friday to end the day flat amid lack of global as well as domestic cues. Nifty50 settled the week 0.8% lower, its first weekly loss in six weeks, breaking its longest gaining streak since late 2014 while Sensex ended the week 0.6% lower.

Gains were capped by a sharp correction in pharma and IT stocks on worries over their earnings outlook while ITC, Tata Motors continued to support the market.

The S&P BSE Sensex settled at 31,056, down 19 points, while the broader Nifty50 ended at 9,588, up 10 points.

In the broader market, the S&P BSE Smallcap pared gains to finish 0.1% higher after rising 0.5% to hit its record high, while the S&P BSE Midcap index was up 0.2%.

Pharma was the top losing index amid worries about their earnings outlook because of pricing pressures in the United States, down 1.8%. Lupin was the biggest laggard on the index, down over 4% followed by 4% Divi’s Lab, Cadila Healthcare, Sun Pharma and Cipla.

Continue Reading