Benchmark indices extend gains; Sensex up 941 pts, Nifty advances 298 pts
New Delhi, May 6
Indian markets closed in green as Indian benchmark indices sustained the positive momentum to end Wednesday's trading session with gains. The BSE Sensex finished the day at 77,958.52 points, marking an increase of 940.73 points or 1.22 per cent. The NSE Nifty 50 followed a similar trajectory, closing at 24,330.95 points, up by 298.15 points or 1.24 per cent.
At the closing bell, Indigo (+6.72%), Trent (+4.09%), and Asian Paint (+3.81%) were the biggest gainers whereas, Reliance (-1.72%), HCL Tech (-0.78%), and ITC (-0.27%) lost momentum.
At the time of filing this report, Brent Crude stood at USD 101.01, down by USD 8.88 or 8.08 per cent. Similarly, Crude Oil settled at USD 92.59, down by 9.69 or 9 per cent, whereas Gold rose to USD 4,698.15, up by USD 144.17, or 3.13 per cent.
Earlier this morning, at the opening bell, the BSE SENSEX stood at 77,536.67 points, marking an increase of 518.88 points or 0.67 per cent at the start of trade. Simultaneously, the NSE NIFTY 50 showed the upward movement, standing at 24,218.80 points, gaining 186.00 points or 0.77 per cent.
Gold prices traded at USD 4,647.25, reflecting a 2.00 per cent jump. Meanwhile, crude oil prices saw a slight decline, with Brent crude trading at USD 108.02 and West Texas Intermediate at USD 100.39.
At the same time, Asian Markets were predominantly trading in the green, highlighted by a sharp 6.64 per cent surge in the KOSPI to 7,397.76. Other regional indices also posted gains, including the Shanghai Composite up 1.27 per cent and the Hang Seng rising 0.64 per cent.
More modest growth was observed in the Taiwan Weighted index (0.57 per cent), the Jakarta Composite (0.77 per cent) and the Straits Times (0.12 per cent), while the Nikkei 225 remained at 59,513.12 with a 0.38 per cent increase.
— ANI
Reader Comments
Gold going up 3% is not great news for the common man 😔. Every time the market pumps, my jewellery shopping gets postponed. Also, why is Reliance struggling when everything else is up? Something doesn't add up.
Indigo up 6.7%! Jet fuel prices coming down must be helping. But honestly, as a regular investor, I wish the market would show more stability instead of these wild swings. One day we're up 900, next day down 500. Breathe, market, breathe!
Gotta love how Asian markets are partying and we're just following the trend. KOSPI up 6.6% is insane! Hope this momentum carries for a few more sessions. But let's not forget - crude oil prices dropping is good for India's import bill. More money for roads and trains, hopefully? 🚂
Respectfully, I think we're ignoring the elephant in the room. Gold at $4698 is a red flag for inflation concerns. The market is celebrating today, but FIIs are still selling. Be careful, friends. Remember 2008? 🫠
Looks like a classic short-covering rally before F&O expiry. HCL Tech and ITC dragging - typical IT and FMCG weakness while autos and paints shine. I'm not chasing this move. Better to sit on cash and wait for better entry points. Patience, patience! 🐢
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