Wednesday, March 22, 2023

Sensex breaks 5-day slump on value-buying; Nifty closes near 17,000 level – Usky News

MUMBAI: Domestic equity market on Thursday snapped a five-day losing streak as the benchmark Sensex recovered lost ground and closed 78 points higher on fag-end value buying in banking, energy and financial stocks. Investor sentiments were supported by a positive opening in European markets, while clouds loomed over the health of the global banking system amid the Credit Suisse crisis and bank failures in the US.
Snapping a five-day losing streak, the 30-share BSE Sensex ended 78.94 points, or 0.14 per cent, higher at 57,634.84, while 17 scrips closed in the green. It touched a high of 57,887.46 and a low of 57,158.69 during the session.
50-share nse The Nifty closed at 16,985.60, up 13.45 points or 0.08 per cent. Nifty 32 shares closed in the green mark.
Equity benchmarks ended in the positive zone after trading lower for most part of a volatile session.
Nestle India was the top gainer in the Sensex pack, rising 2.54 per cent, followed by Asian Paints, HUL, Titan, Sun Pharma, SBI, PowerGrid and Bajaj Finserv.
On the other hand, Tata Steel, IndusInd Bank, Bharti Airtel, Infosys, Wipro, HCL Tech and Reliance declined up to 3.31 per cent.
In Asian markets, Shanghai, Tokyo, Hong Kong and Seoul closed with heavy losses.
European stock markets marched higher in early trade on Thursday after troubled lender Credit Suisse announced its plans to boost liquidity.
Credit Suisse has said it will borrow money from the Swiss Central Bank and buy back about USD 3 billion in debt to help ease the looming crisis around it.
Wall Street’s major indices closed on a mixed note in overnight trade.
Meanwhile, the rupee depreciated by 13 paise to close at 82.78 against the US dollar on Thursday.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,271.25 crore on Wednesday, according to exchange data.


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