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Sensex crosses 56000 mark as Indian stock markets gain for 6th straight session

Indian stock markets on Friday created history today by maintaining a winning streak of 6 consecutive days for the first time this year, as both Sensex and Nifty ended their markets in green.

Stocks related to banks and fast-moving capital goods performed exponentially well today, as the positive market sentiments helped exchanges to close their market in green.

Sensex

The benchmark index of Bombay stock exchange S&P BSE Sensex gained 390.28 points (0.70%) on Friday to close the market at 56 072.23 points.

Today was the first time S&P BSE Sensex touched the 56000 mark after May 2nd, 2022. On May 2nd, 2022 Sensex closed the market at 56975.99 points.

Top gainers in the index were UltraTech cement (5.31 %) HDFC(2.37 %) HDFC Bank (2.34 %) Axis Bank (2.14%) ICICI Bank (1.74%) and Titan (1.62 %).

In S&P BSE Sensex, stock value of banking companies and FMCG increased well today. Apart from the stocks mentioned above, Kotak Bank, Nestle India, State Bank of India, and ITC closed the markets in green.

The top losers on Friday were Infosys (1.73%) NTPC (1.19%) power grid (1.01 %) Wipro (0.80%) and Indus Ind Bank (0.56%).

Negative performance by the Indus Ind Bank surprised analysts as in the trading session on Thursday, the shares of the bank increased by 5%.

Infosys shares dipped by 1.73 percent on Friday as the company is expected to release its first-quarter results in the upcoming days. The stock closed trading on Friday at 1506.30 points.

The IT company had earlier stated that they would be increasing their scope of business by providing IT solutions to a wider range of domains.

19 stocks in the index advanced, while 11 stocks declined.

The banking index of BSE S&P Bankex on Friday increased its market value by 620.88 (1.49 percent) to close the market at 42405.30 points.

Only stocks of federal Bank, Indus Ind Bank, and Au Bank declined in the index.

The technology index of the Bombay stock exchange performed badly on the last trading day of this week, as the index lost 101.74 points (0.77 percent). Out of 28 stocks, 20 declined, while only 8 stocks were able to advance during the day. All major stocks such as Airtel, TCS, Tech Mahindra, HCL Tech, ITI, Wipro, and Infosys declined during the trading.

Nifty

The Nifty 50 index of the National stock exchange gained 114.2 (0.69 percentage) on Friday to close the market at 16719.45. The previous close of the index was 16605.25.

Top gainers were UltraTech cement, Grasim, UPL, HDFC Bank, and HDFC.

The top losers in the index were Tata consumers, Infosys, NTPC, Power grid, and BPCL.

International markets, gold, oil

Asian stock markets performed well today as Nikkei 225, Straits Times,  HANG SENG INDEX,  TSEC weighted index, and Jakarta Composite Index closed their markets in green. Only the KOSPI Composite Index and Shanghai Composite of China traded in red on Friday.

European markets of FTSE 100, CAC 40, and DAX PERFORMANCE-INDEX performed well as the exchanges saw an increase of market value by 0.05 to 0.25%.

 

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