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Business News/ Markets / Stock Markets/  Share market today: Sensex, Nifty 50 end in green led by bank, metal stocks; broader market underperforms
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Share market today: Sensex, Nifty 50 end in green led by bank, metal stocks; broader market underperforms

Share market today: Domestic equity indices Sensex and Nifty 50 end Friday in the green after four days of losses amid Middle East tensions.

The Bombay Stock Exchange Limited (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. It is located at Dalal Street, Mumbai, India. MUMBAI PIC:MADHU KAPPARATHPremium
The Bombay Stock Exchange Limited (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in Asia. It is located at Dalal Street, Mumbai, India. MUMBAI PIC:MADHU KAPPARATH

Share market today: Domestic equity benchmark indices, the Sensex and the Nifty 50, concluded Friday's trading session in the green, following four straight days of losses against the backdrop of Middle East tensions.  Following their Asian counterparts, the domestic benchmark indices had a weaker opening to the day's trading but subsequently made up ground.

The 30-share BSE Sensex ended higher by 599.34 points or 0.83% at 73,088.33 level while the Nifty 50 closed at 22,147.00 level, up 151.15 points or 0.69%. The broader market underperformed the benchmark indices. The Nifty Small Cap 100 ended 0.10% higher and the Nifty Midcap 100 closed 0.61% higher.

Also Read: Wipro Q4 Results: Net profit drops 8% to 2,835 crore, revenue down 4% YoY

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According to Vinod Nair, Head of Research at Geojit Financial Services, large-cap stocks propelled the Indian markets' robust comeback despite the global weakness. This was fueled by expectations of minimal potential for escalation in response to Israel's strikes against Iran. But fragility endures as oil prices rise, raising the possibility of inflation. Because people were seeking safe havens, gold prices were soaring. Weakness was seen in mid- and small-cap stocks as Q4 earnings expectations remained muted.

Tensions in the Middle East were affecting confidence throughout the globe, Asian equities fell on Friday, and US futures were considerably down, according to an AP news report.

Also Read: Wall street fear gauge hits 5-month high, oil stumbles as Israel 'attacks' Iran | 10 points

The state-run IRNA news agency claimed early on Friday morning that Iran had launched air defense batteries in response to reports of explosions near the city of Isfahan, which caused oil prices to spike by around USD 3. 

Japan's main index, the Nikkei 225, fell 3.51% to 36,742.05. Australia's S & P/ASX 200 fell 1.7% to 7,512.70 levels. Kospi, the stock market of South Korea, fell 2.9% to 2,558.56. The Hang Seng in Hong Kong fell 1.4% to 16,161.24, and the Shanghai Composite fell 0.1% to 3,071.76.

Top Nifty 50 gainers and losers today

As many as 30 stocks settled in the green in the Nifty 50 index while the rest 19 ended in red.

Shares of Bajaj Finance Ltd (up 3.15%), Mahindra & Mahindra Ltd (up 2.92%), HDFC Bank Ltd (up 2.64%), Maruti Suzuki India Ltd (up 2.30%), and JSW Steel Ltd (up 2.27%)ended as top gainers.

On the other side, Bajaj Auto Ltd (down 2.48%),Nestlé India Ltd (down 1.32%), Divis Laboratories Ltd (down 1.32%), HCL Technologies Ltd (down 1.16%), and Larsen & Toubro Ltd (down 1.07%) were among the laggards.

Also Read: Sensex Today Live Updates : Sensex ends up 600pts, Nifty at 22,150; FS, Bank, FMCG gain, Pharma, IT down

Sectoral indices today

Amongst sectoral indices, Nifty Bank (up 1.07%), Nifty Financials Services (up 1.31%), Nifty Private Bank (up 1.11%), Nifty Metals (up 0.96%), Nifty FMCG (up 0.44%) and Nifty Auto (up 0.41%) closed in green.

On the other side, Nifty Media (down 1.02%), Nifty Realty (down 0.70%), Nifty IT (down 0.39%), Nifty Pharma (down 0.65%) and Nifty Oil & Gas (down 0.22%)ended in red.

Also Read: Nifty 50, Sensex drop nearly 1% amid escalating tensions in Middle East; Nifty IT index fell 1.74%

Technical Views 

"On the daily chart, a piercing line pattern has formed, often indicating a bullish reversal following a correction. Additionally, the indicator has surpassed the 55EMA, a short-term moving average. A close above this moving average signifies a positive short-term trend. Looking ahead, bulls may drive the Nifty 50's recovery towards 22,300. Furthermore, a decisive breakthrough above 22,300 could trigger a sustained rally towards 22,600. On the downside, support on a closing basis is situated at 22,000," said Rupak De, Senior Technical Analyst, LKP Securities.

Also Read: Top Gainers and Losers today on 19 April, 2024: Bajaj Finance, Mahindra & Mahindra, Bajaj Auto, HCL Technologies among most active stocks; Check full list here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 19 Apr 2024, 03:30 PM IST
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