Saturday, May 28, 2022
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ITC, L&T, Asian Paints Share Among Top Gainers As Sensex Closes 157 Points Higher

Sensex ended 157 points higher on Thursday, tracking gains in index majors Reliance Industries, ITC and L&T amid a largely positive trend in global markets. Nifty rose 47.10 points to 17,516.85.

ITC, L&T, Asian Paints Share Among Top Gainers As Sensex Closes 157 Points Higher

Equity benchmark Sensex ended 157 points higher on Thursday, tracking gains in index majors Reliance Industries, ITC and L&T amid a largely positive trend in global markets.

The 30-share index ended 157.45 points or 0.27 per cent higher at 58,807.13. Similarly, the NSE Nifty rose 47.10 points or 0.27 per cent to 17,516.85.

Top gainers:

ITC was the top gainer in the Sensex pack, rising around 5 per cent, followed by L&T, Asian Paints, Reliance Industries, M&M, Bajaj Finance and Infosys.

Top losers:

On the other hand, HDFC Bank, Titan, Nestle India, NTPC and PowerGrid were among the laggards.

“Domestic indices surrendered to profit-booking in early session, but later gained ground owing to positive global sentiments,” said Vinod Nair, Head of Research at Geojit Financial Services.

Investors are keenly awaiting the US inflation data in order to gauge the Fed’s decision on rolling back economic stimulus, he said.

Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong ended with gains, while Tokyo was in the red.

Stock exchanges in Europe were largely trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude slipped 0.63 per cent to $75.34 per barrel.

According to a report published in The Economic Times, this is what analysts have said about the market today.

Vinod Nair, Head of Research at Geojit Financial Services

Domestic indices surrendered to profit booking in the early session but later gained ground owing to positive global sentiments. Investors are keenly awaiting the US inflation data in order to gauge the Fed’s decision on rolling back economic stimulus. Easing fears over the Omicron variant continue to temper optimism in the markets. Gains in FMCG and consumer durables were offset by losses in Oil & Gas and healthcare.

Rohit Singre, Senior Technical Analyst at LKP Securities

Index managed to close a day on positive note for third consecutive day at 17517 with mild gains and formed dragonfly doji on daily chart which hints indecision in the markets. Index has formed stiff hurdle zone on the higher side around 17550-17600 zone for further up move index need to cross said levels decisively otherwise we may again witness profit booking on every rise and support for index is coming near 17400-17300 zone now fresh buy can be initiated only if we see sustainability above 17600 zone.

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