The Bombay Stock Exchange (BSE) building in Mumbai. File | Photo source: REUTERS
Stock markets snapped a five-day losing streak on Friday, with the benchmark BSE Sensex closing 75 points higher on value buying in banking and crude oil stocks following recent losses.
The 30-share BSE Sensex rose 75.71 points or 0.10 percent to settle at 73,961.31. During the session, it reached a high of 74,478.89 points and a low of 73,765.15 points.
Breaking a five-day losing streak, the 50-share NSE Nifty rose 42.05 or 0.19% to end at 22,530.70. In the five days to Thursday, Nifty and Sensex prices lost over 2% amid high volatility ahead of the Lok Sabha polls.
“The pre-election trading strategy has come to an end and all eyes will be on the publication of the exit poll for further action. Regional diversions, marginally low voter turnout and mighty resistance at current levels are prompting investors to adopt a cautious stance,” said Vinod Nair, Research Director, Geojit Financial Services.
Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen & Toubro, ICICI Bank, among others, gained from the Sensex package.
Nestle India, Tata Consultancy Services Maruti Suzuki India, Infosys, Axis Bank, Hindustan Unilever were left behind.
In Asian markets, Shanghai, Tokyo, Seoul and Hong Kong closed mixed. European stock exchanges recorded declines. Thursday’s session of the main indexes on Wall Street ended with declines.
Global price benchmark Brent crude fell 0.40% to $81.53 a barrel.
According to stock exchange data, foreign institutional investors (FIIs) withdrew shares worth ₹ 3,050.15 crore on Thursday.
