Market cross profit to end flat; Tech Mahindra, Apollo Hospitals Top Gainers

BSE Sensex With a gain of 44.42 points or 0.07 percent, it closed at 61319.51. During the day, it gained 407.16 points, or 0.66 per cent, to 61,682.25.

smelly It closed at 18,035.80, up 20 points or 0.11 percent.

Whereas, 25 constituents of the Nifty 50 advanced while 24 declined. Whereas, Nifty Bank closed at 41,631.35, down 0.24 per cent.

ONGC, Tech MahindraApollo Hospitals, Divis Labs and Nestle India were major gainers on the Nifty, while losers were BPCL, Bajaj Finance, HUL, HDFC Life and M&M.

Tech Mahindra, Nestle, Tata Steel, NTPC, Tata Consultancy Services, Asian Paints, Wipro and Bajaj Finserv were among the gainers in the Sensex pack.

Tech Mahindra and ONGC advanced 5 per cent with Apollo Hospitals rising over 3 per cent. BPCL, Bajaj Finance and M&M declined in today’s session.

IT, metals and realty sectors led the rally in the first half with a jump of over one per cent. Bank, auto and finance indices closed in the red on Thursday with minor losses.

“The domestic market absorbed the rally in the global market led by IT stocks, while upstream oil companies benefited as a result of reduction in windfall tax. Strong US retail sales numbers showed evidence of resilience in the US economy amid concerns over higher inflation numbers, following strong jobs data. However, gains were limited on concerns that a strong economy would attract a tighter monetary policy,” said Vinod Nair, head of research at Geojit Financial Services.

The rupee strengthened by 13 paise to close at 82.70 (provisional) against the American currency on Thursday due to widespread weakness in the dollar and a positive trend in domestic equities.

“Indian rupee bounces back after three days of losses on stronger regional currencies, better-than-expected trade balance numbers and lower crude oil prices. The local unit was also supported by dollar inflows as foreign institutions turned buyers into domestic equities in the last few days, said Dilip Parmar, Research Analyst, HDFC Securities.

“In near term, spot USDINR has resistance at 82.95 and support at 82.30. The bias for the pair remains positive as long as it trades above 82.30, the 50-day simple moving average,” he said.

Foreign portfolio investors (FPIs) were net buyers as they bought value shares 432.15 crore on Wednesday, according to exchange data.

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