Share Market Today: Sensex, Nifty End With Marginal Gains Ahead Of Lok Sabha Exit Polls

Share market today: On the 30-share Sensex platform, Tata Steel, Bajaj Finance, HDFC Bank, IndusInd Bank, M&M, PowerGrid emerged gainers

Share market today: The BSE Midcap closed marginally higher at 0.2 per cent, while the BSE Smallcap closed 0.8 per cent higher.

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Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday snapped their 5-day losing streak and closed marginally higher ahead of the Lok Sabha elections last phase scheduled for Saturday (June 1). Exit poll results will also come out on Saturday evening. The S&P BSE Sensex gained 76 points to 73,961 after paring initial gains amid volatility. On the other hand, the NSE Nifty50 settled at 22,531, up 42 points.

Stock update

On the 30-share Sensex platform, Tata Steel, Bajaj Finance, HDFC Bank, IndusInd Bank, M&M, PowerGrid emerged gainers. On the down side, Nestle, TCS, Maruti, Infosys, Asian Paints, HUL were among the losers.

In the broader markets, the BSE Midcap closed marginally higher at 0.2 per cent, while the BSE Smallcap closed 0.8 per cent higher.

Sectoral update

Sectorwise, Nifty IT and Media indices dropped around 1.3 per cent each. On the other hand, Nifty Realty index jumped 2.34 per cent, followed by Nifty PSU Bank index, rising 1.28 per cent.

In the previous session on Thursday, the Sensex fell 617 points to 73,885, while the NSE Nifty50 slumped 216 points to 22,488.

"The pre-election trading strategy has come to an end, and all eyes will be on the release of the exit poll for further action. Regional diversions, marginally low voter turnout and strong resistance at current range are prompting investors to adopt a cautious stance," Vinod Nair, Head of Research, Geojit Financial Services said.

Global market update

In Asian markets, Shanghai, Tokyo, Seoul and Hong Kong were closed on a mixed note. European stock markets were trading lower. Major indices on Wall Street ended lower on Thursday.

Global oil benchmark Brent crude went lower 0.40 per cent to $81.53 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,050.15 crore on Thursday, according to exchange data.

Rupee slips 20 paise

Meanwhile, the rupee paired all its early gains and settled with a steep loss of 20 paise at 83.49 (provisional) against the US dollar on Friday amid volatile domestic equity markets and unabated outflow of foreign funds. Forex traders said increased month-end demand of greenback by oil marketing companies also weighed on the Indian currency even as it found some support due to lower level of crude oil prices.

At the interbank foreign exchange market, the local unit opened at 83.25 and oscillated between the intra-day high of 83.23 and lowest level of 83.49 during the session. It finally settled at 83.49 (provisional), registering a loss of 20 paise from its previous closing level. On Thursday, the rupee gained 11 paise to close at 83.29 against the US dollar.