Stock Market: Sensex Up 119 Points, Nifty Closes Above 18,500. Auto, Metal Stocks Lead
Stock update: On the 30-share Sensex platform, Tata Steel Maruti, M&M, Sun Pharma, L&T, Titan, Airtel emerged gainers. Infosys, Wipro, TCS, HCL, Reliance, Bajaj Finance were among the losers
Sensex and Nifty, the two key equity benchmarks, which oscillated between gains and losses eventually settled in the green on Friday. The domestic indices advanced tracking cues from Asian peers that clocked strong gains after the US Senate voted in favour of the proposed debt ceiling budget cuts package. The S&P BSE Sensex, which swung in a range of 340-odd points, ended with a gain of 119 points at 62,547. On the other hand, the NSE Nifty 50 gained 46 points at 18,534.
On the 30-share Sensex platform, Tata Steel Maruti, M&M, Sun Pharma, L&T, Titan, Airtel emerged gainers. On the flipside, Infosys, Wipro, TCS, HCL, Reliance, Bajaj Finance were among the losers.
#ABPLiveStockMarketWatch | Indian equity benchmarks settled in the green on Friday
— ABP LIVE (@abplive) June 2, 2023
At 03:30 PM, #Sensex gains 119 points to 62,547 & #Nifty up 46 points to close at 18,534
Here's a look at the stocks in focus#ClosingBell #ABPLive #MarketWatch pic.twitter.com/ZakKacTpok
In the broader markets, the BSE Midcap and Smallcap indices were up over 0.5 per cent each.
The overall breadth too was fairly positive, with nearly 2,200 stocks advancing versus 1,370 declining shares on the BSE.
Among sectors, realty, auto, and metal added 1 per cent each, while IT and oil & gas stocks saw a decline due to selling.
In the previous session on Thursday, the S&P BSE Sensex, which, had touched a high of 62,762, finally ended with a loss of 194 points at 62,429. On the other hand, the NSE Nifty gave-up the 18,500 level in late trades, and settled at 18,488, down 47 points.
GST collections recorded a 12 per cent rise in May at over Rs 1.57 lakh crore, according to official data released on Thursday.Manufacturing activities in India advanced further and touched a 31-month high in May, supported by a stronger increase in new orders and favourable market conditions, which in turn generated more employment opportunities, a monthly survey said on Thursday.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the green. Equity markets in Europe were trading in positive territory. The US markets ended higher on Thursday.
Global oil benchmark Brent crude jumped 1.74 per cent to $75.57 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 71.07 crore on Thursday, according to exchange data.
Meanwhile, the rupee appreciated by 9 paise to 82.31 (provisional) against the US dollar on Friday, supported by broad dollar weakness and a positive trend in domestic equities.
At the interbank foreign exchange market, the local unit opened on a positive note against the US dollar and settled at 82.31 (provisional), up 9 paise over its previous close.
During the day, the domestic unit witnessed an intra-day high of 82.27 and a low of 82.38 in the day trade. On Thursday, the rupee closed at 82.40 against the US currency.
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