Sensex Gains Over 250 Points, Nifty Tops 15,800

By Administrator_ India

Capital Sands

The domestic stock markets have hit record highs on Friday morning, extending the rally witnessed in the previous session, on the back of strength in metal shares. At 9:18 am, the BSE Sensex was trading at 52,534.15, higher by 235.15 points or 0.45 percent and the NSE Nifty was at 15,809.95, up 65.25 points or 0.43 percent. All the BSE sectoral indices are trading in the green, with the exception of the consumer durable space.

The broader markets are also trading firms, with the BSE Midcap index and BSE Midcap index gaining 0.4 percent and 0.7 percent respectively.

Asian markets were mixed in Friday morning trade. The Hang Seng index gained 0.53 percent in early trade and Taiwan’s index added 0.63 percent, whereas the Shanghai Composite index declined 0.47 percent.

Wall Street ended marginally higher on Thursday, with the S&P 500 closing above its prior record high set on May 7, as economic data appeared to support the Federal Reserve’s assertion that the current wave of heightened inflation will be temporary. The Dow Jones rose 0.06 percent, the S&P 500 gained 0.47 percent and Nasdaq Composite added 0.78 percent.

On the earnings front, BEML, BHEL, CG Power, and Cochin Shipyard will declare their numbers during the day.

On the stock-specific front, index heavyweights such as Reliance Industries, HDFC Bank, and HDFC have gained around a percent each on the BSE. M&M, Sun Pharma, and Bajaj Auto are the other significant gainers among Sensex stocks.

On the other hand, Bajaj Finserv, Bajaj Finance, and Hindustan Unilever are bucking the strong trend with losses of around a percent each on the BSE.

The BSE market breadth is positive. Out of 2,625 stocks traded on the BSE, there are 1,895 advancing stocks against 643 declines.

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