Sensex rises 712 pts, Nifty tops 17,150; Tata Steel rallies 7%, HDFC 2%

CLOSING BELL: Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent

CLOSING BELL

Stock market highlights: Benchmark indices settled near the day's high on Friday as investors lapped up metal and IT shares, along with index heavyweights like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance.

The S&P BSE Sensex soared 712 points, or 1.25 per cent, to end at 57,570, while the Nifty50 shut shop at 17,158, up 229 points or 1.35 per cent. In the broader market, the BSE MidCap and SmallCap indices, too, added over 1 per cent each.

Sectorally, the Nifty Metal index climbed 4 per cent, followed by the Nifty IT index (2 per cent). Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent.

Global markets

European markets advanced on Friday as investors digested a fresh swathe of corporate earnings and awaited key economic data out of the euro zone. The pan-European Stoxx 600 climbed 0.8 per cent by mid-morning, with construction and material stocks adding 2.4 per cent.

On Wall Street, Nasdaq Futures were up over 1 per cent, while Dow Jones and S&P Futures added up to 0.7 per cent.

4:07 PM

Nifty tech view: Trend likely to remain positive over the short term

Nifty remains strong as the index gained for the third consecutive day.

Besides, the index has sustained above the major short-term moving indicating a positive trend.

The daily RSI is in bullish crossover and rising. The trend is likely to remain positive over the short term.

On the lower end support is pegged at 16,800-16,775. Resistance on the higher end can be seen around 17,400.

Views by Rupak De, Senior Technical Analyst at LKP Securities.

4:05 PM

Closing view: Market perceiving less aggressive rate hike action

Wall Street staged a robust recovery after a shaky opening due to a contraction in the US economy, as the market perceived that aggressive monetary policy will soon come to an end.

This added optimism in the domestic market, and the rupee strengthened against the dollar increasing appetite for FIIs.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:03 PM

Rupee appreciates 49 paise to close at 79.26/$

4:01 PM

Talbros Auto gains 2% on winning large order worth Rs 400 cr

 

3:59 PM

Asahi India bounces 4% up; Q1 Ebitda margin rises to 24.64% from 19.6% last yr

 

3:57 PM

Piramal Enterprises sinks 4%; Q1 net profit comes lower at Rs 486 crore

 

3:55 PM

Heritage Foods slips on posting Rs 7.3 cr PAT vs Rs 30 cr last year

 

3:52 PM

Indian Oil gains 1%; Q1 net loss narrows to Rs 2000 cr from Q4FY22

 

3:48 PM

Metal index surges 4%; PSBs sole losers

 

3:45 PM

Broader markets also surge; Small-caps outshine benchmarks

 

3:44 PM

Nifty drags: Dr Reddy's slips 4% on weak Q1 results

 

3:43 PM

Nifty winners: SBI Life, Hindalco, Sun Pharma, CIL lift index higher

 

3:41 PM

Sensex Heatmap: Only 4 of 30 stocks close lower; Tata Steel surges 7%

 

3:39 PM

Closing Bell: Sensex gains steam in fag-hour; ends 712 pts up

 

3:39 PM

Closing Bell: Nifty closes above 17,150; only 7 stocks end in red