Stock market recovered from five days of decline, Sensex rose 75 points

Mumbai. The decline in the local stock markets that was continuing for the last five sessions came to a halt on Friday. Amid fluctuating trading, the Sensex closed with a marginal gain of 75 points due to buying in the shares of banks and petroleum companies. The BSE’s 30-share benchmark index Sensex closed at 73,961.31, up 75.71 points or 0.10 percent. During the trading, it also touched a high of 74,478.89 points and a low of 73,765.15 points. Thus, the index witnessed a lot of fluctuations.

The benchmark index Nifty of the National Stock Exchange (NSE) also managed to recover from the decline and closed at 22,530.70 points, up 42.05 points or 0.19 percent. Before the results of the Lok Sabha elections, the market had been in a state of fluctuation and had seen a decline for five consecutive trading sessions. In these five sessions, both Nifty and Sensex had fallen by more than two percent. Vinod Nair, Head of Research at Geojit Financial Services, said, the strategy before the election results is over and now everyone’s eyes will be on the exit poll data.

Sectoral diversity, mild decline in voting and resistance at the current range are prompting investors to adopt a cautious stance. Sensex stocks Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen & Toubro, ICICI Bank closed with gains. On the other hand, Nestle India, Tata Consultancy Services (TCS), Maruti Suzuki India, Infosys, Axis Bank and Hindustan Unilever declined.

In other Asian markets, China’s Shanghai Composite, Japan’s Nikkei, South Korea’s Kospi and Hong Kong’s Hang Seng closed with mixed trends. European stock markets were trading with a decline. US markets closed with a decline on Thursday. Global oil benchmark Brent crude fell 0.40 percent to $ 81.53 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 3,050.15 crore on Thursday.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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