The package of 30 Sensex shares included Sun Pharma, Dr. Reddy’s, PowerGrid, ITC and Titan are among the leading winners
The package of 30 Sensex shares included Sun Pharma, Dr. Reddy’s, PowerGrid, ITC and Titan are among the leading winners
Benchmark Sensex and Nifty indices, up for the fourth straight day, settled marginally higher after a choppy session on Friday, tracking mixed global trends amid uncertainties on the geopolitical front.
The BSE Sensex opened weak, falling 414.44 points to 55,049.95 on opening trades. But within minutes, he recouped all of his losses, climbing 369.56 points to 55,833.95.
Given the volatility, the index finally settled at 55,550.30, up 85.91 points or 0.15%.
Similarly, the broader NSE Nifty gained 35.55 points, or 0.21%, to close at 16,630.45.
“In line with global markets, Indian equity markets continue to show very high levels of volatility and are reacting to increasing news flow on the geopolitical front,” said Milind Muchhala, Executive Director, Julius Baer.
As markets braced for the known unknowns of Fed measures, state elections and the LIC’s large-scale IPO, the Russia-Ukraine turmoil clearly emerged as a tail risk, adding to uncertainty in both the short and medium term, he added.
The package of 30 Sensex shares included Sun Pharma, Dr. Reddy’s, PowerGrid, ITC and Titan are among the leading winners.
In contrast, laggards included Nestle, Maruti Suzuki India, Tata Steel, NTPC, UltraTech Cement and Axis Bank.
Stock exchanges in Hong Kong and Tokyo settled lower, while Shanghai traded slightly higher.
The US stock exchanges leveled off on Thursday in the red.
The BJP, bulldozing a resurgent rainbow coalition led by the Samajwadi party, stormed back to power in Uttar Pradesh on Thursday, also retaining Uttarakhand, Manipur and Goa, while Arvind Kejriwal’s AAP achieved a stellar victory in Punjab, taking a three-quarters majority. pulverize its competitors.
Meanwhile, international oil benchmark Brent rose 1.93 percent to $111.4 a barrel.
Overseas institutional investors continued their selling spree in Indian markets as they sold shares valued at Rs 1,981.15 crore on a net basis on Thursday, according to stock market data.
“The global stock market tumbled on Thursday as key peace talks between Russia and Ukraine stalled. As a result of BJP’s triumph, the market gained confidence. However, with the ECB and Fed meetings coming up in the coming days, caution is advised,” said Mohit Nigam, Head – PMS, Hem Securities.
