Finance
Today’s Stock Market Highlights: Equity markets gained ground on Friday, the final trading day of the fiscal year 2022-23, as fears of contagion risk from the US banking crisis subsided. Index heavyweights Reliance Industries, ICICI Bank, and Infosys accounted for nearly 60% of the BSE benchmark’s gains.
The S&P BSE Sensex reached a high of 59,068 before closing with a 1,031-point gain at 58,992. In the process, the BSE 30-share index gained 0.1% for the month and finished FY23 0.7% higher.
The NSE Nifty 50 reached a high of 17,382 before closing 279 points higher at 17,360. The 50-stock index rose 0.3% in March but fell 0.6% for the fiscal year 2022-23.
The broader indices gained ground as well. The BSE Midcap index gained 1%, while the Smallcap index gained 1.4%. The overall breadth on the BSE was also fairly positive, with two advancing shares for every declining stock.
Shares of Mukesh Ambani Reliance Industries rose more than 4% to Rs 2,331 after the company announced a meeting of lenders and shareholders on May 2 to discuss the demerger process.
Nestle India, ICICI Bank, and Infosys all gained more than 3%, making them the Sensex 30’s other major gainers. Other major gainers included Tata Motors, TCS, Tech Mahindra, HCL Technologies, Axis Bank, and Wipro.
The BSE IT index increased by 2.5 percent. Bankex and Energy and Realty indices jumped around 1.5 per cent each.
Select shares of Adani group –Adani Power, Adani Wilmar and NDTV were locked at the 5 per cent upper limit. ACC gained 2.5 per cent in trades on Friday.
Source:BS
