Synopsis: Sensex Today | Stock Market LIVE Updates | India’s equity benchmarks Sensex and Nifty traded higher on Friday, buoyed by improved sentiment after U.S. President Donald Trump mentioned a "potential" trade deal with New Delhi.
The Economic Times
Market Performance:
- Sensex: The BSE Sensex opened higher, gaining over 500 points in early trade, but eventually settled 106 points higher at 75,921.
- Nifty 50: The NSE Nifty 50 closed above the 24,400 mark, reflecting cautious optimism among investors.
Sectoral Highlights:
- Information Technology (IT): IT stocks led the rally, with Tata Consultancy Services (TCS) and Infosys posting significant gains, driven by positive global cues and strong quarterly earnings.
- Banking: Banking stocks, particularly HDFC Bank and ICICI Bank, contributed to the market's upward movement, buoyed by expectations of stable interest rates and robust credit growth.
Geopolitical Impact:
The market's volatility was partly attributed to heightened geopolitical tensions following India's military operations in Pakistan-administered Kashmir. Despite initial concerns, investors seemed to factor in the limited scope of the conflict, leading to a recovery in market sentiment.
The case against Mahmudabad was triggered by complaints from the Haryana state commission for women (HSCW) and a local village sarpanch, both of which alleged that his posts were inflammatory and disrespectful.
In its letter dated May 16 to the state DGP, the HSCW said its complaint was based on “prima facie evidence and precedent.” The FIR was registered under several non-bailable sections of the BNS, including, Section 152 (Acts endangering the sovereignty or integrity of India), Section 196 (1) (Promoting enmity between groups on grounds of religion), Section 197 (Imputations prejudicial to national integration), Section 299 (Outraging religious feelings through deliberate and malicious acts), Section 79 (Insulting the modesty of a woman) and Section 353 (Statements conducing to public mischief).
"In a significant move aimed at bolstering national security and tackling cross-border threats, the Punjab Cabinet has approved the deployment of nine advanced anti-drone systems along the state’s 550-kilometre international border with Pakistan," said CM Bhagwant Mann.
- International arrivals: 04
- International departures: 05
- Domestic arrivals: 63
- Domestic departures: 66
US-based private equity major Carlyle plans to divest its entire remaining stake in PNB Housing Finance through a block deal worth $308 million (approximately ₹2,604 crore) on Friday, according to a term sheet issued by IIFL Capital.
With a topline of more than INR60,000 crore and profit of INR10,650 crore, HUL is the largest FMCG company in India. But can it continue to dominate the market?
Shares of IndusInd Bank rose over 3% on Friday to touch an intraday high of Rs 863.8 apiece on the BSE. The consolidation comes following a change in the lender's top management.
- S&P 500 futures rose 0.7% as of 1:36 p.m. Tokyo time
- Japan’s Topix rose 0.4%
- Australia’s S&P/ASX 200 rose 0.9%
- Hong Kong’s Hang Seng rose 1.7%
- Euro Stoxx 50 futures rose 1.3%