Stock Market Updates: On Thursday, on the expiry of Monthly Future and Options, the market showed negative bias, but due to banking shares, the NSE Nifty has closed at its record high today. The Nifty continues to rise for the fifth consecutive day amid falling cases of Kovid. The day had seen some ups and downs, but several banking stocks, including the State Bank of India, were seen till the end of trading, due to which the Sensex-Nifty closed at the day’s high.
The 30-share Sensex of the BSE closed at 51,115.22 points with a gain of 97.70 points, or 0.19 percent. At the same time, the National Stock Exchange’s Nifty rose by 36.40 points, or 0.24 percent, to 15,337.85 points. The Nifty has gained about 3 per cent in the May series and the Sensex 2.71 per cent.
In today’s trading, 1675 shares were up sharply, 1314 fell and 121 remained unchanged. Barring the pharma and energy sectors, all other sectoral indices closed with gains. The Nifty Bank, IT and PSU banking index gained 1-2 per cent.
Among the Sensex companies, SBI shares rose the most by nearly three per cent. The shares of Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and Powergrid were also profitable. On the other hand, shares of HDFC, Bajaj Finance, ONGC and Bharti Airtel declined.
Vinod Modi, strategy head, Reliance Securities, said, “In the volatile business between futures and options settlement, the domestic stock markets showed a fighting potential and the business remained limited.” IT shares remained in demand for the second consecutive day. Modi said that due to short covering, some counters also got support.
Among other Asian markets, Hong Kong’s Hang Seng, South Korea’s Cospi and Japan’s Nikki were at a disadvantage. China’s Shanghai Composite has benefited. European markets were at a loss in afternoon trade. Meanwhile, the international benchmark Brent crude was trading at $ 68.20 a barrel, a loss of 0.77 percent.
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