The NSE Nifty was up by 1.42 per cent or 311.70 points to 22,294.50, while the BSE Sensex was at 73,490.03, up by 1.37 percent or 989.73 points. A total of 3,884 stocks were actively traded, with 2,482 advancing, 1,281 declining, and 121 remaining unchanged, while 222 stocks hit a 52-week high and 26 stocks hit a 52-week low at 1:22 pm on Friday.

Anand James, Chief Market Strategist, Geojit Financial Services, said, “Yesterday’s initial recovery attempts stalled near 22,000, there was enough positivity bubbling to stage another couple of uprisings that would finally stretch above 22000. While all these were along expected lines, we had also noted that inability to close above 22,070, would allow the slippage to 21,800 to continue. We are encouraged to modify this view and look for more upsides today, with the downside marker placed near 21,943. However, inability to float above 22,070-100 after initial positivity, would have to be taken as a weakening signal.”

He further added, “Gold reached a one-month high on Thursday as the dollar weakened following U.S. inflation data that met expectations. Traders shifted their focus to additional remarks from Federal Reserve officials to gauge the possibility of interest rate cuts. Crude oil futures recorded a second consecutive monthly increase as market expectations lean towards an extension of production cuts by OPEC and recent inflation data aligning with forecasts.”

Major gainers on the NSE at 1:22 pm include Tata Steel (4.76%), JSW Steel (4.06%), L&T (3.35%), BPCL (3.35%), and Titan (3.03%). Major losers include Cipla (-0.81%), Britannia (-0.71%), HCL Tech (-0.49%), Apollo Hospitals (-0.45%), and LTIMindtree (-0.39%).

Major stocks that hit a 52-week high on the NSE include Kalyani Steels (17.57%), Swaraj Engines (9.86%), Sanghvi Movers (8.87%), Yuken India (8.81%), and Tata Investment Corp (4.25%).

The BSE Midcap was up by 0.65 per cent, and the BSE Smallcap was up by 0.70 per cent, indicating gains. 

Related Topics
comment COMMENT NOW