Fantastic Fri-Yay! Sensex Ends Above 64,700, Up 803 pts; Nifty Tops 19,200 - News18
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Last Updated: June 30, 2023, 15:46 IST
Sensex Today: Sensex, Nifty rallied to record highs for the second straight trading session on the back of all-round buying. IT, Auto and Capital Goods shares in particular logged smart gains.
The S&P BSE Sensex started the day with a 100-odd point gap-up, and went on to extend gains as the day progressed. The BSE benchmark scaled a high of 64,768.58 towards the fag end of the trading session, and finally ended with a solid gain of 803 points at 64,719.
In the process, the BSE benchmark index ended the week with a gain of 1,740 points or 2.8 per cent; June month with a gain 2,097 points or 3.4 per cent, and was up a solid 9.7 per cent or 5,727 points for the first quarter of fiscal year 2023-24.
The NSE Nifty 50 breached the 19,200-level for bit as the index registered its summit at 19,201.70, and settled 217 points stronger at 19,189.
Similarly, the NSE Nifty 50 was up 2.8 per cent for the week, and 3.5 per cent for the month. The NSE benchmark has galloped 10.5 per cent or 1,829 points in the quarter ended June 2023
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The momentum in the market has picked up again and the undercurrent has the potential to take the benchmark indices to new highs. The global support to the bullishness is coming from the mother market US where the market is resilient supported by better-than-expected Q1 GDP growth of 2% and declining weekly jobless claims. This resilience of the US economy, which was not anticipated and discounted by the market, is the strongest pillar of support for the global markets now. In July the market trend will be influenced by auto sales numbers in June, Q1 results, progress of the monsoon and the Fed rate decision and commentary by month end. Market valuations are rich now, and therefore, investors should exercise some caution."
Global Cues
Japan’s Nikkei share average fell on Friday, dragged down by heavyweight technology shares as investors paused buying ahead of corporate earnings season, but the index is set to post a weekly gain.
The Nikkei index fell 0.53 per cent to 33,058.99 by the midday break. But the index is set to gain 0.85 per cent, recovering from its first weekly loss after 10 straight weeks of gains.
The Dow and the S&P 500 advanced on Thursday as bank shares rallied after major lenders cleared the Federal Reserve’s annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank.
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