Domestic stock markets ended with moderate gains on Friday. They traded with huge gains in the morning due to mixed signals from Asian and international markets. They traded in a range-bound mode as the rupee weakened and investors took profits. There was demand for auto and pharma shares. Selling pressure continued on metal shares. Investors are acting cautiously in the face of uncertainty. The slight decline in India Vicks is a good sign. The rupee fell sharply due to the increase in the dollar index.
The BSE Sensex, which closed at 78,472 in the previous session, started today at 78,607. It touched an intraday low of 78,598. It reached an intraday high of 79,043. It finally closed at 78,699 with a gain of 226 points. The NSE Nifty, which opened at 23,801 on Friday, touched a low of 23,800 and a high of 23,938. It closed at 23,813, up 63 points. The Bank Nifty rose 140 points to settle at 51,311.
In the Nifty, 30 stocks gained while 20 lost. Dr. Reddy's, IndusInd Bank, M&M, Tata Motors, Eicher Motors were the top gainers. Hindalco, SBI, CoalIndia, ONGC, BEL lost the most. Metal, PSU Bank, Realty, Consumer Durables, Oil and Gas indices were in the red. Auto, FMCG, Pharma, Healthcare indices rose.
The market breadth on the NSE was equal for buyers and sellers. Out of 2894 companies traded, 1431 gained and 1391 lost. 47 shares hit 52-week highs. 59 hit 52-week lows. The fear index India VIX fell 5.68% to 13.24, which is a good sign.
The rupee suffered a sharp fall against the dollar. It touched a lifetime low of 85.81. It then recovered slightly and settled at 85.54. Due to the market correction, investors' interest in defense stocks like Hindustan Aeronautics, BEL, Mazda, PTC increased. Motilal Oswal has given a buy rating to HomeFirst Finance with a target price of Rs. 1250. Adani Wilmar gains for fifth day in a row. Motilal has given a buy rating to JSW Infra with a target price of Rs 375. 10 lakh shares changed hands in a block deal in UPL. Ircon International gets an order worth Rs 89 crore. Dhani Services is looking to raise funds. NBCC gets an order worth Rs 369 crore.
