Stock Market Today: Sensex Surges Over 500 Points, Nifty Above 16,700

At 9:19 am, the BSE Sensex was up 528 points or 0.95 per cent to 56,346, whereas the Nifty 50 index advanced 155 points or 0.94 per cent to 16,783.

Outlook Business Team

Updated on: 3 June 2022 11:30 am

Sensex.

The Indian equity benchmarks opened on a positive note on Thursday as indicated by the SGX Index. At 9:19 am, the BSE Sensex was up 528 points or 0.95 per cent to 56,346, whereas the Nifty 50 index advanced 155 points or 0.94 per cent to 16,783.

The Nifty Midcap 50 index was up 0.73 per cent at 7,894, whereas the Nifty Midcap 100 index was up 1.03 per cent at 28,683. All the sectoral indices witnessed buying in early trade with IT, banking, and realty stocks leading the pack.

Amongst the Nifty 50 listed companies, Wipro, HCL Technologies, Tech Mahindra, Infosys, and Reliance Industries were the top gainers, whereas Shree Cement Limited, Britannia, UltraTech Cement, NTPC, and GRASIM Limited were the top losers. Amongst the BSE listed companies, Wipro, Tech Mahindra, Infosys, HCL Technologies, Bajaj Twins, TCS, SBI, Sun Pharma and HDFC twins were the top gainers, whereas NTPC, Bharati Airtel, Asian Paint, Tata Steel and UltraTech Cement remained the top losers.

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Meanwhile, the major indices in Asia were trading higher on Friday amidst strong global cues. While Japan’s Nikkei 225 surged 1.14 per cent, South Korea’s advanced 0.32 per cent. China’s Shanghai Composite surged 0.42 per cent, whereas the Shenzhen component advanced 0.67 per cent. The Hang Seng index was trading 1 per cent lower.

Similarly, the major indices in the US were trading higher on Thursday with IT stocks leading the pack. The S&P 500 advanced 75.59 points or 1.8 per cent to 4,176. The Dow Jones Industrial Average surged 435 points or 1.3 per cent to 33,248, whereas the Nasdaq Composite was up 322 points or 2.7 per cent to 12,316.

The foreign institutional investors (FII) remained the net sellers worth Rs 451 crore on Thursday, whereas the domestic institutional investors (DII) remained the net buyers worth Rs 130 crore on Thursday, according to the data on NSE.

The crude oil prices remained unchanged in the early hours on Friday. While the US West Texas Intermediate (WTI) crude futures were up 1 cent at $116 per barrel, the Brent Crude Futures surged 7 cents to $117.62 per barrel at 0112 GMT. Meanwhile, Rupee declined 10 paise to close at 77.60 against the US Dollar on Thursday.

UltraTech Cement, Hindalco, and Aether Industries are the stocks in focus today.