In early trade on Friday, Sensex and Nifty opened with losses after Fed Chairman Jerome Powell said the US central bank is not confident that interest rates are high enough to control inflation.
However, the indices erased the losses later on. Sensex closed 72 pts higher today and closed above the 64,900 mark while Nifty closed at 19,425.
-Banking, financial and energy stocks led the gains.
Gainers and losers
Among the Sensex pack – NTPC, Tech Mahindra, and Ultratech cement, were top gainers whereas M&M, HCL Tech and Titan were the top losers
Stocks in news
Honasa shares were down 21% from the IPO price during today’s trade but jumped back up after Jefferies gave a buy rating to the stock. The share closed over 7% higher.
RVNL closed nearly 3% lower after the firm reported muted Q2 results. It posted a 3.4% YoY rise in profit at Rs 394.3 crore in Q2 FY24.
CarTrade Tech closed with a 20% upper circuit after the company reported a 44% jump in its revenue growth and a 132% growth in profit after tax.
Sector-wise performance
Nifty Metal, Nifty Oil & Gas, Nifty Bank, Financial Services, FMCG, Pharma, and Realty sectors closed with gains. In the broader market, Nifty Midcap100 rose 0.48%, while Smallcap100 gained 0.47%.\
Oil Prices and Rupee
Oil prices were up on Friday. Brent crude futures for January were up 1.07%, at $80.81 a barrel during Asian hours, while the US WTI crude futures for December were at $76.5, up 1.02%.
The Indian rupee fell to a record low as a rebound in US Treasury yields pressured Asian currencies. The rupee closed at 83.34 against the US dollar.
