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Market at close | Sensex ends higher but off intra-day highs, Nifty regains 17,700
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Market at close | Sensex ends higher but off intra-day highs, Nifty regains 17,700
Mar 6, 2023 6:38 AM

Indian equity benchmarks BSE Sensex and NSE 50 ended Friday's session at a high note. The 30-share BSE Sensex rose over 415 points or 0.69 percent to 60,224.46, while the broader NSE Nifty appreciated by over 100 points or 0.67 percent to 17,711.45. As many as 25 constituents of the 30-share Sensex including HCL Tech, TCS and Reliance closed in the positive territory while five were marginally lower.

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Nifty Bank was 300 points down from highs. It, however, gained 99 points to end at 41,350. The midcap index rose 262 points to 30,960.

Adani Group stocks except Ambuja and ACC ended with healthy gains. Adani Enterprises and Adani Ports were 94 percent and 50 percent up respectively from their recent lows. Adani Group gained market cap for fifth straight session. It added Rs 2 lakh crore in last 5 days.

Britannia was top Nifty loser following a downgrade, down more than 20 percent. Tata Motors surged by 3 percent as February JLR sales come in 33 percent higher year-on-year (YoY).

The power related stocks Power Grid and NTPC continued their winning run, with 2-3 percent up. Samvardhana Motherson rose by 4 percent as it acquired additional 4 percent in SMR Jersey.

Gail moved higher ahead of open house on pipeline tariff, up 4 percent.

Market breadth favoured advances. The advance-decline ratio stood at 3:2.

The BSE companies gained market cap for second straight session and added Rs Rs 2.12 lakh crore today.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said, "The relief rally continued for the second straight session backed by sharp upsurge in energy stocks like power, oil & gas that helped benchmark Sensex end above the psychological mark of 60,000. There is some amount of bargain buying seen after the recent sell off but the overall sentiment still remains that of caution with a negative bias as larger worries related to macro-economic woes and geo-political tension still pose significant threat to markets."

In Asian trading, Hong Kong's Hang Seng index gained 0.2 percent, Tokyo's Nikkei 225 by 1.1 percent and the Kospi in Seoul by 1.3 percent.

On Friday, Sensex rallied nearly 900 points and Nifty jumped more than 272 points, mainly on the back of positive global cues and fresh fund inflows.

Foreign Portfolio Investors (FPIs) were net buyers, with investments worth Rs 246.24 crore on Friday, according to data with the BSE.

Markets will remain closed on Tuesday for the Holi festival.

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