October 4, 2022
Share Market: Sensex closed with slight gains, see today’s stock market

Share Market Update: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 closed with marginal gains on Friday. The BSE Sensex edged up 105 points or 0.2 per cent at 59,793, while the NSE Nifty 50 index rose 35 points or 0.2 per cent to end at 17833. Tech Mahindra, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki India, TCS, State Bank were among the top index gainers.

On the other hand, UltraTech Cement, M&M, L&T, Bajaj Finance, Titan closed in the red. There was a lot of volatility in today’s business. Sensex had crossed 60,000 level and Nifty also jumped above 17,900. But the sell-off narrowed the gains and by the end of the day all was flat.

IT stocks had a good day today and rose over 2 per cent. Tech Mahindra and Infosys led the IT rally and gained 3 per cent and 2 per cent respectively. IndusInd Bank and Adani Ports also ended in the green with good gains. UltraTech Cement, M&M and HDFC Life were among the laggards. The financial sector and realty indices remained under pressure.

Asian markets mostly ended in the green. While investors were skeptical of policymakers’ comments on aggressive rate hikes to contain inflation. Nikkei shares closed an average of 0.53 per cent higher on Friday with gains in Japanese stocks compared to the previous day. The Nikkei gained a total of 2.04 per cent this week, mainly due to Thursday’s rally of 2.315 per cent.

Shares in China saw the biggest intraday gain in a month as modest inflation data and expectations of further policy support lifted investor mood. The Shanghai Composite Index rose 0.8 per cent and the Hang Seng Index 2.7 per cent. On the other hand, European stocks rose today with banks rising gains, a day after the ECB tightened its fight against inflation, while higher metal prices supported mining stocks.

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