Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian equity markets started on a good note in the morning registering sharp gains, however by the end of the trading session, the FMCG and banking sectors showed signs of weakness, resulting in marginal gains for the full session.
While the S&P BSE Sensex ended 114 points or 0.37 percent higher at 30,932.90, the NIFTY 50 index gained 0.44 percent or 40 points to close at 9,106.25. In the intraday trading, the Sensex had surged 370 points. The BSE Midcap and Smallcap indices closed 0.76 percent and 0.72 percent higher, respectively. Nifty Bank, Private Bank, Financial Service and Realty indices registered losses to the tune of 0.69 percent.
In the Nifty 50 index, Wipro, SunPharmaMaruti, Asian Paints, Bajaj Auto, HCL Technologies, Infosys, ITC, Hero MotoCorp, Bharti Infratel,andPidilite were among the top gainers. Whereas, IndusInd Bank, L&T, HUL and Bajaj Finance remained the index top losers.
RIL that has been in the limelight for long ahead of opening of its rights issue did not do much to electrify the escalated market rally. Touching the day’s high of Rs 1461.45, the stock of Reliance Industries Limited closed at Rs. 1,440.00, rising by Rs. 6.30 or 0.44%.
- Manufacturing and Energy in the red
Due to low demand and shrinking earning capacity of people, manufacturing and energy sector stocks took a beating on the bourses today. The stocks in the energy sector witnessed a substantial downswing in prices with NIFTY ENERGY closing at 12,502.60 points, plummeting by 0.005 percent
Bellwether FMCG stock Hindustan Unilever Ltd declined by 1% to close at Rs. 1,970.70
- Infra Slowed the Stock street
The equities in the Infra sector slackened the stock markets in today’s trade. Larsen & Toubro Limited was amongst the top infra brands on the Nifty 50 chart on Wednesday. However the stock slipped the charts on Thursday closing declining by Rs. 14.00 or 1.68% and settled at Rs.821.00.
- Airlines Got The Market Going
Airlines stocks supported Nifty on positive news of domestic flights resuming from Monday 25th May. SpiceJet Limited gained over 5%, closing at Rs. 42.85, increasing in value by Rs. 2.00 or 4.90%. The announcement pumped up the stock of Interglobe Aviation Ltd, and it closed at Rs. 980.05 increasing by Rs 68.15 or 7.47 percent.
Apart from Airlines, IT technologies, Chemicals and Essential Goods supply sectors encountered huge gains over Thursday closing trade.
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