Stock Market HIGHLIGHTS: Sensex ends 910 pts higher, Nifty50 surpasses 17,850 led by financial, IT shares; Titan shares jump 7% on earnings boost
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 overcame initial choppiness to clock strong gains in the second half of a volatile day on Friday, the last session of a week that saw the the unveiling of a pragmatic Union Budget 2023 by Finance Minister Nirmala Sitharaman. Gains across most sectors pushed the headline indices higher, with financial, IT, consumer and auto stocks being the top boosts.
Globally, equity markets were a mixed bag as investors weighed a 50-basis-point hike from the ECB against a smaller hike in the US along with a rather dovish tone of the Fed.
Here are five things to know about the February 3 session on Dalal Street:
1) The Sensex finished 909.6 points or 1.5 per cent higher for the day at 60,841.9, and the Nifty50 settled at 17,854.1, up 243.7 points or 1.4 per cent from its previous close.
2) Thirty six stocks in the Nifty50 basket ended higher. Titan, Adani Ports, the Bajaj finance, HDFC Bank, SBI, HDFC and Eicher Motors were the top gainers, finishing between 2.9 per cent and 6.5 per cent higher.
3) On the other hand, Divi’s was the top laggard, falling 12 per cent after its earnings announcement. Adani Enterprises, Bharat Petroleum, Tata Consumer, Hindalco and HDFC Life were among other blue-chip losers, declining around 1-2 per cent.
4) Among heavyweights, the HDFC twins, Bajaj Finance and Titan were the biggest boosts for both headline indices.
5) Overall market breadth favoured the bears, with an advance-decline ratio of 1:2 as 1,237 stocks rose and 2,310 fell at the close on BSE.
6) The Nifty PSU Bank was the top gainer among NSE’s sectoral gauges, up 3.1 per cent, followed by the Nifty Financial Services and Nifty Bank gauges, up 2.4 per cent and two per cent respectively. On the flipside, the healthcare and pharma indices were the top losers, down one per cent each.
7) The rupee strengthened by 34 paise or 0.4 per cent to end at 81.83 against the US dollar.
8) Analysts awaited more of corporate earnings from India Inc for domestic cues.
9) European markets began the day in the red, following a mixed session across Asia, amid weakness in tech stocks on concerns about global economic demand and the impact of high interest rates. The pan-European Stoxx 600 index was down 0.3 per cent at the last count.
10) S&P 500 futures were down 0.6 per cent, suggesting a gap-down opening ahead on Wall Street.
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