Sensex, Nifty Continue Gains For Third Day In A Row

The Indian equities indices increased today as the week came to a close, continuing their recent winning streak for the third straight session.

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The Indian equities indices increased today as the week came to a close, continuing their recent winning streak for the third straight session. However, following the murder of Japan’s former prime minister Shinzo Abe, stocks in Asian markets became flat. While running for office in a legislative election, he was shot at.

Additionally, U.S. stock futures fell, pointing to a shaky start for Wall Street.

Later in the day, the nation’s first-quarter (Q1) earnings season for the fiscal year 2022–2023 (FY23) will also get underway thanks to IT powerhouse Tata Consultancy Services (TCS).

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The broad NSE Nifty advanced 88 points or 0.54 percent to conclude at 16,221 on Friday, while the 30-share BSE Sensex increased 303 points or 0.56 percent to close at 54,482.

Mid- and small-capitalization stocks performed well at the close, with the Nifty Midcap 100 up 0.28 percent and small-caps up 0.31 percent.

The National Stock Exchange’s 15 sector gauges, which it collected, finished in the green in 13 of them. The NSE platform was outperformed by the sub-indices Nifty Bank and Nifty FMCG, which gained up to 0.58 percent and 0.53 percent, respectively.

Nifty Metal, on the other hand, displayed weakness by dropping as high as 0.8%.

L&T was the highest Nifty gainer among individual stocks, up 4.63 percent to a price of Rs 1,685.70. Among the winners were PowerGrid, Tata Motors, NTPC, and SBI Life.

A favourable market breadth was observed overall, with 1,911 shares on the BSE rising and 1,374 falling.

L&T, PowerGrid, NTPC, ICICI Bank, Axis Bank, Dr. Reddy’s, Nestle India, Bharti Airtel, Infosys, Hindustan Unilever, Sun Pharma, and Tech Mahindra were among the top gainers on the 30-share BSE index, with their shares rising as much as 4.56 percent.

Additionally, shares of Life Insurance Corporation of India (LIC), the largest domestic financial investor and insurer in the nation, increased 1.38 percent to close at Rs 707.80.

Tata Steel, Maruti, IndusInd Bank, TCS, Asian Paints, HCL Tech, M&M, Wipro, and HDFC, on the other hand, reported negative financial results.