Clues break a 4-day losing streak; Sensex jumps 345 points, Nifty settles above 16,000 points

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Sensex, Nifty, stock prices today: Major stock indexes BSE and National Stock Exchange (NSE) snapped their four-game losing streak and ended up more than 0.6% on Friday.

The S&P BSE Sensex jumped 344.63 points (0.65%) to end at 53,760.78 while the Nifty 50 climbed 110.55 points (0.69%) to settle at 16,049, 20. Both indexes had opened around 0.4% earlier in the day and extended as the trade progressed. The BSE benchmark reached an intraday high of 53,811.37 while the wider Nifty hit 16,066.95.

Gains on the Sensex pack on Friday were led by Hindustan Unilever (HUL), Titan Company, Maruti Suzuki India, Larsen & Toubro (L&T), Housing Development Finance Corporation (HDFC) and Mahindra & Mahindra (M&M). In contrast, Tata Steel, Power Grid Corporation of India, HCL Technologies, Wipro, Dr. Reddy’s Laboratories and Axis Bank ended in the red.

Among the sector indices on NSE, Nifty Auto rose 2.03%, Nifty FMCG climbed 1.47% and Nifty Consumer Durables edged up 1.45%.

In the broader market, the S&P BSE MidCap ended at 22,854.62, up 191.31 points (0.84%) while the S&P BSE SmallCap stood at 25,779.56, up 191.31 points (0.84%). 133.88 points (0.52%). On NSE, the volatility index or India VIX fell 4.04% to 17.60.

“Volatility resurfaced and investors focused on the Fed’s policy stance amid increased US inflation. Falling crude prices and reduced FII sales added optimism to the market domestic data while lackluster IT earnings, Rupee depreciation and fears of a global recession restrain a significant upside In addition to Fed policy, near-term domestic market dynamics will be influenced by ongoing quarterly earnings,” said Vinod Nair, head of research at Geojit Financial Services.

World Markets (from AP)

European stocks opened higher on Friday after a mixed session in Asia following a report that China’s economy contracted 2.6% in the last quarter due to virus shutdowns that kept businesses closed and people at home.

Stocks in Hong Kong and Shanghai fell while most other benchmarks rose. US futures were little changed and oil prices were mixed.

The German DAX gained 1.5% to 12,706.96 while the CAC 40 in Paris gained 0.6% to 5,950.63. Britain’s FTSE 100 advanced 0.9% to 7,104.57. Futures for the S&P 500 and Dow industrials barely changed, gaining less than 0.1%. In Asia, Tokyo’s Nikkei 225 added 0.5% to 26,788.47. The Kospi in Seoul rose 0.4% to 2,330.98 and shares also rose in India and Taiwan. The Shanghai Composite lost 1.6% to 3,228.06. Australia’s S&P/ASX 200 fell 0.7% to 6,605.60 and the Hang Seng in Hong Kong fell 2.2% to 20,297.72.

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