Sensex Today: After topping the 60,000 mark, Sensex gave up morning gains to end the day only 100 points higher at 59,788.38. Nifty also retreated from 17,900 mark and ended the day 0.18 percent higher at 17,830.50. About 1631 shares have advanced, 1725 shares declined, and 116 shares are unchanged.
Among sectors, Nifty IT staged a remarkable recovery in the afternoon session with Tech Mahindra, Infosys and HCL Tech as top gainers. Meanwhile, selling was seen in realty and power stocks.
The Nifty50, on the other hand, settled at 17,833, higher by 35 points or 0.19 per cent. In the broader markets, the Nifty MidCap 100 added 0.35 per cent, while the Nifty SmallCap100 edged 0.06 per cent up.
Sectorally, the Nifty IT index jumped the most, up 2 per cent, while the Nifty Financial Services and Realty indices dipped 0.5 per cent each.
Anand James – Chief Market Strategist at Geojit Financial Services, said: “Wayward VIX had refrained us from committing to a directional move even though the 18,600 trajectory has been maturing for a while now. This has been the reason for riding the recent moves pivot to pivot rather than embarking on an expansive move. From this perspective, we will go in today, with a downside marker pushed higher to 17,750, aiming for 17,975. While we are biased towards extending upside, we are equally mindful of a sharp long liquidation, should Nifty slip beyond 17,700 again.”
Global Cues
Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the U.S. Federal Reserve Chair reinforced bets of aggressive tightening ahead.
Tokyo stocks opened higher on Friday after Wall Street gains despite the European Central Bank’s largest rate hike ever and more hawkish comments from the US Federal Reserve. The benchmark Nikkei 225 index was up 0.49 percent, or 138.54 points, at 28,203.82 in early trade, while the broader Topix index was up 0.08 percent, or 1.52 points, at 1,959.14.
Wall Street’s main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month.
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