Last updated: May 19, 2023, 9:48 AM IST
Sensex Today: Equity benchmark indices BSE Sensex and NSE Nifty started on a positive note Friday after three consecutive days of losses as fourth-quarter gains failed to help Dalal Street amid fears of a US debt burden.
The BSE Sensex gained 155 points to 61,587 and the NSE Nifty50 rose 42 points to 18,172.
SBI, Tech M, Infosys, HCL Tech, Nestle, ICICI Bank, Ultratech Cement and Pwer Grid led gains on the Sensex, rising 0.5-1.2 percent.
On the other hand, Divi’s Lab, Eicher Motors, UPL, Titan, Maruti and Tata Steel were the biggest laggards.
Broader markets opened lukewarm. The BSE MidCap fell 0.08 percent and the SmallCap index rose 0.13 percent.
Sectorally, the Nifty Auto, Metal, Realty, FMCG and Pharma indices fell, while the IT and PSB pockets were the biggest risers.
In addition, Gland Pharma slumped 18 percent after fourth-quarter profits fell 72 percent year-over-year on a 29 percent drop in sales. Net profit was also impacted by an impairment loss of Rs 56.46 crore.
Bata India rose 4 percent after reporting a 4.5 percent year-on-year profit growth in the fourth quarter to Rs 65.55 crore.
Global signals
Global markets posted overnight gains, with the S&P 500 and Nasdaq Composite reaching their highest closing prices since August 2022. The indices finished 0.9 percent and 1.5 percent higher. Dow gained 0.3 percent.
In Asia, Japan’s Nikkei and Topix rose to 0.7 percent this morning, maintaining their highest level in 33 years. Japan’s core inflation rose 3.4 percent yoy in April, in line with forecasts, while other major inflation indicators (excluding food and fuel) rose 4.1 percent yoy, the highest in 40 years.
The Kospi and Strait times also gained to 0.7 percent, while the Hang Seng index fell nearly 2 percent.