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Sensex rises 443 points, Nifty sits above the 15,550 level mark buoyed by auto stocks

Stock Market Today, Stock Market Updates: The benchmark stock indices of the BSE and the National Stock Exchange (NSE) gained nearly 1 percent on Thursday, buoyed by gains in auto, information technology (IT) shares ) and pharmaceuticals despite the weakness of the global market.

The S&P BSE Sensex finished at 52,265.72, up 443.19 points (0.86 percent), while the Nifty 50 rose 143.35 points (0.93 percent) to 15,556.65.

In the Sensex pack, automakers Maruti Suzuki India and Mahindra & Mahindra (M&M) were the main drivers on Thursday, followed by Asian Paints, Bharti Airtel, Tata Consultancy Services (TCS), Wipro, Sun Pharmaceutical Industries, Hindustan Unilever ( HUL) and ICICI. Bank. By contrast, Reliance Industries (RIL), Power Grid Corporation of India and NTPC closed lower.

Among NSE sectors, Nifty Auto was the biggest gainer on Thursday, rising 4.39 percent. Apart from this, the Nifty IT index rose 1.96 percent, Nifty Realty rose 1.66 percent and Nifty Pharma advanced 1.58 percent.

In the broader market, the S&P BSE MidCap Index rose 296.76 points (1.40%) to close at 21,474.82, while the S&P BSE SmallCap Index finished at 24,136.33, 281.71 points (1.18%). ). In NSE, the VIX or India volatility index fell 1.97 percent to 20.88.

“Nifty rebounded from the June 23 afternoon sell-off and closed higher despite fears of a rate hike and recession around the world. Volumes on the NSE were in line with the recent average. Among sectors, Oil & Gas was the biggest loser, while the Autos, Real Estate, Capital Goods, Telecoms, IT and Healthcare indices rose the most. The forward decline ratio jumped to much more than 1:1. The small and mid-cap indices were up a bit more than the Nifty,” said Deepak Jasani, director of retail research at HDFC Securities.

Nifty appears to have bottomed higher at 15,385 and is now scheduled to make a higher top above 15,707. A gap to the downside of 15,385 could see all bullish bets taken off the table, she added.

overall market

World markets fell on Thursday as investors feared further interest rate hikes to quell decades-high inflation would push economies into recession. The German economy, Europe’s largest, suffered a sharp loss of momentum at the end of the second quarter, according to the latest Purchasing Managers’ Index, while figures for France also showed weaker activity.

The STOXX stock index of 600 European companies fell 1.3 percent to a new low for the year.

The MSCI All Countries stock index fell 0.35 percent, adding to its more than 20 percent decline for the year. Both Nasdaq and S&P500 futures fell about 0.4 percent.

Stocks in Asia were mixed, with South Korea falling 1.2 percent, while blue-chip China stocks rose 1.7 percent, and Japan’s Nikkei was flat.

-Information on the global market from Reuters

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