Markets in the green

17 May 2024 , 01:21 PM

Indian benchmark indices saw an uptick on Friday, fueled by a series of positive Q4 earnings reports released on Thursday. The Sensex climbed 283.77 points, or 0.39%, to reach 73,947, while the Nifty rose by 69 points, or 0.31%, to 22,473.  The market breadth was positive with 2,099 shares advancing, 1,204 declining, and 106 remaining unchanged.

Sector-wise, the IT, Pharma, and Healthcare indices faced pressure, whereas the Consumer Durables, Auto, Metal, and Realty indices emerged as the top gainers.

On the Nifty 50, 23 out of 50 stocks were in the red, with Cipla, Bajaj Auto, SBI Life, Nestle India, and Britannia Industries being the biggest drags. Conversely, Mahindra & Mahindra, JSW Steel, Grasim Industries, UltraTech Cement, and Tata Steel led the gains.

Similarly, on the BSE Sensex, 12 out of 30 stocks declined, with Nestle India, TCS, Wipro, Hindustan Unilever, and Sun Pharma leading the losses, while Mahindra & Mahindra, JSW Steel, UltraTech Cement, Tata Steel, and Tata Motors were the top performers.

The broader market outperformed the frontline indices, with the BSE SmallCap index gaining 0.56% and the BSE MidCap index rising by 0.99%.

In terms of institutional activity, FIIs net sold shares worth ₹776 Crore on May 16, while DIIs net purchased shares worth ₹2,128 Crore. Provisional data indicated that FIIs bought shares worth ₹16,604 Crore and sold ₹17,380 Crore, whereas DIIs bought shares worth ₹14,908 Crore and sold ₹12,780 Crore during the session.

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