Among the stocks Sensex, Maruti, Reliance,
, Corp and M&M were the biggest gainers in today’s session, up about 1.5-5%. ,,,, HDFC and also higher.
However,
,,,,, SBI and end the session with a cut.
By sector, Nifty Auto increased 1.63% and Nifty Oil & Gas increased 1.03%. While Nifty Pharma and Nifty Metal closed lower. In the broader market, the Nifty Midcap50 is down 0.26% and the Smallcap50 is down 1.14%.
Vinod Nair, Head of Research at
speak.
“The ECB raised interest rates by 75 basis points, also signaling that it is making progress in combating record inflation, although the possibility of a recession has increased. However, a stronger rupee coupled with falling Treasury yields and decent Q2 earnings results are supporting the domestic market in the near-term,” added Nair.
Earlier in Asia, Japan’s Nikkei 225, China’s Shanghai Composite and South Korea’s Kospi fell 0.88%, 2.25% and 0.89%, respectively.
The rupee was little changed against the dollar on Friday, but posted weekly gains on bets that the US Federal Reserve will pivot to smaller-scale interest rate hikes from May. 12. The rupee closed at 82.47 today, almost unchanged from 82.49 in the previous session. While the price of Brent oil for January delivery fell 0.69% to $94.38 per barrel.
Market breadth is in favor of the bears. About 1,908 stocks declined, 1,531 stocks increased and 128 stocks remained unchanged.
