The BSE Sensex and the Nifty rebounded on Friday after yesterday’s over 2% fall as metal, banking stocks witnessed buying. Positive opening of European shares also aided sentiments. After a volatile session, the Sensex closed 254.57 points or 0.64% higher at 39,982.98 while the Nifty settled 0.70% or 82.10 points higher at 11,762.45. Nifty metal, the metal sub-index of NSE gained 3.97% while Nifty Bank and Nifty Pharma settled 2% and 1.51% higher respectively.
Among Nifty stocks, JSW Steel was the top gainer, up 6.69% followed by Tata Steel and BPCL, which rallied 5.37% and 4.07% respectively. According to ET Now, the government may not extend the deadline to submit EoI for the disinvestment of BPCL further. Divis labs, Hindalco, grasim, Shree Cements, Ultratech Cement, Axis Bank, Adani Ports, Gail, Kotak Mahindra Bank, Power Grid Corp, Cipla, ONGC, Infosys, indusind bank, NTPC, SBI, ICICI Bank, Tech Mahindra, Hero MotoCorp were the other prominent gainers in the Nifty, rising between 1.22%-3.62%.
UPL was the top loser in Nifty, down 7.82% after KPMG resigned as statutory auditors of its Mauritius arm in order to re-organize the audit process to improve productivity at the request of the company. The company clarified that BSR & Co. continues to carry out the audit of the group’s consolidated financials. BSR & Co is a sub-licensee of KPMG in India.
Asian Paints, M&M, Reliance Industries, Nestle, Sun Pharma, SBI Life Insurance, Wipro, IOC, HUL, HDFC Life were th other losers in the Nifty.
Market breadth was positive today. Out of the 1,601 shares traded on the NSE, 982 shares closed higher while 619 shares closed with losses.
The rupee settled almost flat at 73.35 against the US dollar today in the absence of any fresh trigger. At the interbank forex market, the rupee opened at 73.41 against the greenback, and after witnessing a volatile trading session closed at 73.35, higher by just 1 paisa from its previous close of 73.36. During the session, the rupee witnessed an intra-day high of 73.27 and a low of 73.42 against the US dollar.
