Indian markets end the week in green

Nifty, Sensex end the day on a high note

May 27, 2022 4:05 IST | India Infoline News Service
Indian markets have ended the week in Green. Nifty was up by 182.30 points at the time of closing; BSE Sensex was up by 632 points.  Top Gainers today included Tech Mahindra,  Apollo Hospitals, HDFC Life etc. Top losers today were ONGC, NTPC, PowerGrid , Bharti Airtel etc.

The statement by RBI Governor that inflation will not be controlled at the cost of killing growth seemed to have given some reason for positivity to the markets. Overnight cues from the US markets also pushed up sentiments in the Indian markets. Some US retail companies posted better financial results yesterday. This raised hopes that slowdown in US may not be as deep as expected. US economy is a consumption – driven one. Consumption makes up the biggest chunk of US GDP. Better performance by retail companies indicates to stronger consumption.

Much of the market movement today was also driven by value buying and profit booking. Steel stocks that were among the top gainers yesterday were among the top losers today.  This happened because many investors tried to book profit from the rise seen yesterday in these stocks, by selling their shares.

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