Friday, April 12, 2024
Home News Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm...

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm gl

Market,

The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for a second day amid strong global markets.

The BSE Sensex finished at 58,991.52, up 1,031.43 points, or 1.78 percent, at its closing price. It rose 1,108.38 points, or 1.91 percent, to 59,068.47 during the day. The NSE Nifty ended the day at 17,359.75, an increase of 279.05 points, or 1.53%.

“Due to strong global cues, the banking and IT sectors experienced a sharp market rally as the fiscal year came to an end. The moderation in Indian stock valuations, in particular, also increased institutional investors’ interest. Head of Research at Geojit Financial Services, Vinod Nair, stated, “While the US market Awaits the Release of Personal Consumption Expenditure Data, which is considered a key indicator to predict future actions of the Federal Reserve, domestic investors are looking forward to the RBI MPC meeting next week.”

For the month, the Sensex was down 0.71 percent and the Clever was down 0.52 percent. The Nifty fell by 4% and the Sensex by 3% in the March 2023 quarter, respectively.

Reliance Industries jumped over 4%, making it the biggest gainer among Sensex companies. Other significant winners included Nestle, Infosys, ICICI Bank, Tata Motors, Tata Consultancy Services, HCL Technologies, Tech Mahindra, and Axis Bank.

“Markets finished the final session of the year on a high note, following stable global markets and encouraging local cues. Nifty maintained a positive tone throughout the session, reaching a high of 17,359.75 after opening gap-up. finished up 1.63 percent. The shift was made possible by all industries, but energy, information technology, and banking stand out. In accordance with the pattern, the market broadness was likewise emphatically leaned towards additional potential gain,” Ajit Mishra, said VP – Specialized Exploration, Religare Broking Ltd.

“Markets are taking solace from the dependability in worldwide business sectors and we anticipate that the uplifting vibe should proceed. On the index front, the Nifty has recovered from around 17,400 after a two-week consolidation phase between 16,800 and 17,200. May rest first. approaching 17,600 levels. Participants should keep their focus on stock selection despite the positive atmosphere, he added.

Reliance Industries, Nestle India, Infosys, ICICI Bank, and Tata Motors were the biggest gainers on the Nifty, while Apollo Hospitals, Adani Ports, Sun Pharma, Asian Paints, and Bajaj Finance were the biggest losers.

The sectoral indices all ended the day in the black. The Data Innovation file rose 2.5 percent, while auto, bank, FMCG, capital merchandise, realty and oil and gas acquired one percent each.

Foreign capital inflows and a rise in domestic equity prices on Friday led to a 17-paise increase in the rupee’s value against the US dollar.

According to exchange data, foreign portfolio investors (FPIs) were net buyers on Wednesday as they sold 1,245.39 crore worth of stocks.

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments