Sensex Ends 443 pts Higher, Nifty Holds 15,550; Maruti Rises 7%

Benchmark indices ended on positive note in the highly volatile session on Thursday. At close, the Sensex was up 443.19 points or 0.86 per cent at 52,265.72, and the Nifty was up 143.40 points or 0.93 per cent at 15,556.70. Top Gainers & Losers Maruti Suzuki, Eicher Motors, Hero MotoCorp, Bajaj Auto, M&M, and Tata Motors were the top Nifty gainers, advancing between 3.5 per cent and 6.7 per cent. On the downside, Coal India, Reliance Industries, Power Grid, Grasim, and NTPC fell over 0.5 per cent to 1.5 per cent. Broader Markets Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices outrun the frontline indices, rising up to 1.4 per cent. Individual gainers included Biocon, Ashok Leyland, ABB, Mindtree, Spandana Sphoorty Financial, Responsive Industries, and Khaitan Chemicals and Fertilizers. Sectorally, the Nifty Auto index was the only notable gainer, closing nearly 4 per cent higher. Other indices added up to 2 per cent, except the Nifty PSB index which closed 0.25 per cent down. Among stocks, Glenmark Pharma slipped around 4 per cent after the US FDA issued form 483 with 6 observations for the company’s Baddi unit. Bajaj Auto rose 3 per cent after the company said its board will meet on Monday to further deliberate on the previously deferred share buyback plan. Narendra Solanki, Anand Rathi Shares & Stock Brokers, said: ” Indian markets opened on positive note following Asian market peers which were trading mostly green led by China. During the afternoon session markets trimmed some of their gains as European markets struggled to shrug off recession fears but managed to trade in green.” “Buying in frontline stocks such as Maruti Suzuki, Asian Paints and Bharti Airtel were aiding sentiment, while selling in Power Grid, Titan Co and NTPC kept the gains in the markets in check. Traders were encouraged as Prime Minister Modi said the government expects the Indian economy to grow by 7.5 per cent this year. Additional support came with RBI data showing that the country’s foreign exchange reserves in nominal terms, including valuation effects, rose by $30.3 billion in 2021-22 fiscal against $99.2 billion expansion in FY2020-21,” Solanki said. Global Cues Asian shares wobbled while commodity prices fell on Thursday as mounting concerns about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile. MSCI’s broadest index of Asia-Pacific shares outside Japan reversed earlier gains to be mostly flat in Asia trade. Stocks in South Korea were off, while Japan’s Nikkei was broadly unchanged. Tokyo shares opened higher on Thursday as investors gauged inflation and recession risks after US Fed chair Jerome Powell pointed to the need for further rate hikes. The benchmark Nikkei 225 index rose 0.22 per cent or 58.77 points to 26,208.32 in early trade, while the broader Topix index added 0.41 per cent or 7.62 points to 1,860.27. Wall Street’s main indexes ended with slim losses on Wednesday after choppy trading as energy shares weighed and investors digested Federal Reserve Chair Jerome Powell’s comments on the central bank’s aim to bring down inflation.The Dow Jones Industrial Average fell 47.12 points, or 0.15 per cent, to 30,483.13, the S&P 500 lost 4.9 points, or 0.13 per cent, to 3,759.89 and the Nasdaq Composite dropped 16.22 points, or 0.15 per cent, to 11,053.08. Read all the Latest News , Breaking News , watch Top Videos and Live TV here.

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