Stock Market Updates: Sensex Rises 80 pts, Nifty Above 17,900; Wipro Up 2%,


Sensex Today: On Friday morning, the frontline S&P BSE Sensex jumped 90 points in early deals to 60,740 levels. The NSE Nifty50, meanwhile, held the 17,900-mark, rising 30 points.

The pack that led the gains was auto stocks, followed by metals, and PSU bank stocks.

In the broader markets, the BSE MidCap index added 0.31 per cent, and the BSE SmallCap index advanced 0.5 per cent.

Shares of Godrej Consumer Products fell 2.7 per cent after the company acquired Raymond’s consumer care business – Raymond Consumer Care in an all-cash deal of Rs 2,825 crore. Raymond shares, meanwhile were also down 2.7 per cent.

Wipro, on the other hand, rallied over 2 per cent. The IT services company’s consolidated net profit declined 0.4 per cent to Rs 3,074.5 crore in Q4FY23 from Rs 3,087.3 crore a year ago, owing to macro uncertainties, and cut downs on discretionary spending in key verticals.

Those of Axis Bank were flat with a positive bias. The private sector lender reported a Rs 5,361 crore loss on a consolidated basis in Q4FY23, as against a net profit of Rs 4,417 crore a year ago, impacted by the Rs 12,490 crore payout towards the Citi acquisition.

Global Cues

A solid overnight session on Wall Street, where main indices logged one of their best days in 2023, added muscle to Asian trade this morning.

In Japan, the Nikkei 225 rose 0.49 per cent, while in Australia, the S&P/ASX 200 was up 0.47 per cent, the South Korean Kospi was 0.7 per cent higher. Hong Kong’s Hang Seng index popped 1.31 per cent in early trade, while the Hang Seng Tech index jumped 2.07 per cent.

Overnight in the US, the Dow Jones Industrial Average and S&P 500 gained 1.57 per cent and 1.96 per cent, respectively, while the Nasdaq Composite climbed 2.43 per cent. Q1CY23 GDP in the US grew slower than expected at 1.1 per cent.


Please enter your comment!
Please enter your name here