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Market Closing: Indices End Higher Led By Nifty Metal Index

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The Sensex and Nifty in India ended the trade higher on Friday, led by gains in metals, financial services, and real estate stocks. The Sensex was up 217 points at about 49,167, and the Nifty ended at above 14,808. Asian stocks rose after US indexes rose on the back of positive economic results.

 

Global stocks were on track for their first weekly rise in three weeks, boosted by a jump in commodity prices, as traders awaited the release of the US employment report later on Friday.

Market Closing: Indices End Higher Led By Nifty Metal Index

The majority of the Nifty sectoral indices were in the green, with the Nifty Metal index leading the way with a 5% gain. The main contributors to the Sensex rally were HDFC twins and Bharti Airtel.

JSW Steel gains 2%; JFE Steel and co propose grain-oriented electrical steel manufacturing in India.

According to credit rating agency Crisil, the Reserve Bank's Rs 50,000-crore liquidity window will help increase hospital bed capacity by up to 20% because credit would be available at lower costs.

Tata Steel is the top gainer, up 4%. Among the top performers are SBI Life, JSW Steel, IndusInd Bank, M&M, and Hindalco. Tata Consumer is the worst performer, down 5%. Seven Nifty laggards include Hero MotoCorp, Bajaj Auto, and Power Grid.

 

The rupee has resumed its upward trend as the market cheers the RBI's statements and financial assistance, as well as the dollar index's weakness, which makes the rupee strengthen even more.

Dabur India's Q4 net profit increased by 34% to Rs 377.3 crore from Rs 281.6 crore in the previous quarter (YoY). Revenue increased by 25.3 percent to Rs 2,337 crore from Rs 1,865.4 crore (YoY).

The Housing Development Finance Corporation (HDFC) posted an 8.7% increase in profit in the March quarter, to Rs 3,180 crore, beating expectations.

GoodReturns.in

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