Sensex Today: Benchmark indices Nifty and Sensex are trading higher, supported by index heavyweights including ICICI Bank, ITC and Reliance Industries.
Sensex was trading 527 points or 0.73 per cent higher at 72,931.60 levels while Nifty50 jumped 150 points or 0.71 per cent to 22,113.45 levels.
On BSE, JSW Steel, Asian Paints, ITC were among the top gainers, while Infosys, L&T were among the top losers.
Similarly, on NSE, BPCL, ITC were among the top gainers, while LTIMindtree, Infosys were the top laggards.
In the broader market, Nifty SmallCap was trading 0.13 per cent higher at 16,015.80 levels while MidCap was up 0.19 per cent at 49,203.95 levels.
Sectorally, Nifty Metal and Pharma were up over 0.90 per cent each.
The divergence in institutional activity is becoming stark this month. FIIs have turned sustained sellers and DIIs have turned sustained buyers in all trading days of this month, so far, with cumulative FII selling of Rs 22858 crores and cumulative DII buying of Rs 16700 crores. From the data showing sharper declines in the broader market, it appears that HNIs and retail investors have booked some profits and are in a wait and watch mode, perhaps responding to the noise relating to uncertainty regarding the election results.
Global Cues
Asian stocks advanced on Friday, heading for a third consecutive week of gains, while the dollar remained under pressure due to new indications of a softening U.S. labor market. This bolstered optimism regarding potential interest rate cuts later this year, especially in anticipation of next week’s pivotal inflation data.
The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major U.S. indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts.
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