Sensex Rises 200 pts, Nifty Above 17,200; Metal Stocks Shine


Benchmark indices started Friday’s trade with nominal gains tracking mixed global cues. The indices, however, turned almost flat within minutes after opening, erasing all gains. Among the Sensex-30 shares, Bajaj twins, SBI, HDFC, Bharti Airtel, M&M, and Kotak Bank were the top gainers. Titan, PowerGrid, Nestle, HDFC Bank and Maruti, meanwhile, were the top losers. In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.6 per cent higher.

The markets ended the previous choppy session with marginal losses as investors continue to be on the wait and watch mode amid uncertainties of the Russia-Ukraine war.

Markets will closely monitor the EU summit’s last-day meetings for any cues on likely bans on Russia’s energy imports. Meanwhile, US President Biden has warned that the US will respond to Russia if Putin uses chemical or biological weapons.

Back home, in the primary market, Ruchi Soya’s follow-on public offer was subscribed 12 per cent at the end of Day 1 of the offer period.

Global Cues

Major US stock indices rallied more than 1 per cent on Thursday, extending the market’s recent rebound, as investors snapped up beaten-down shares of chipmakers and big growth names and as oil prices dropped. The Dow Jones Industrial Average rose 349.44 points, or 1.02 per cent, to 34,707.94, the S&P 500 gained 63.92 points, or 1.43 per cent, to 4,520.16 and the Nasdaq Composite added 269.24 points, or 1.93 per cent, to 14,191.84.

Tokyo stocks opened higher on Friday on overnight rallies of US shares, led by semiconductor stocks. The benchmark Nikkei 225 index added 0.62 per cent, or 174.65 points, at 28,285.04 in early trade, while the broader Topix index rose 0.48 per cent, or 9.53 points, to 1,991.09. The dollar stood at 122.10 yen, slightly off from 122.38 yen seen on Thursday in New York.

Hong Kong stocks extended the previous day’s losses at Friday’s open as profit-takers moved in following the market’s recent rally. The Hang Seng Index fell 0.96 per cent, or 210.34 points, to 21,735.61. The Shanghai Composite Index dipped 0.10 per cent, or 3.11 points, to 3,247.16, while the Shenzhen Composite Index on China’s second exchange added 0.08 per cent, or 1.76 points, to 2,146.10.

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