New Update
![Share Market Stock Markets Sensex Nifty](https://img-cdn.thepublive.com/fit-in/1280x960/filters:format(webp)/newsdrum-in/media/media_files/MsW3GTKiq5rqFpBXGbhX.jpg)
Representative image
Representative image
Mumbai: Stock markets snapped the five-day losing run on Friday with benchmark Sensex closing higher by 75 points on value-buying and investors turning their focus on exit polls to be released after the close of the last phase of elections on June 1.
The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points.
Halting its five-day losing streak, the 50-share NSE Nifty rose by 42.05 or 0.19 per cent to end at 22,530.70. Nifty and Sensex tanked more than 2 per cent in the five days to Thursday amid high volatility ahead of the results of the Lok Sabha polls.
"The pre-election trading strategy has come to an end, and all eyes will be on the release of the exit poll for further action. Regional diversions, marginally low voter turnout and strong resistance at current range are prompting investors to adopt a cautious stance," Vinod Nair, Head of Research, Geojit Financial Services said.
From the Sensex pack, Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen & Toubro, ICICI Bank were among the gainers.
Nestle India, Tata Consultancy Services Maruti Suzuki India, Infosys, Axis Bank, Hindustan Unilever were the laggards.
The BSE midcap gauge ended flat, while smallcap index gained 0.76 per cent.
Among the indices, utilities climbed 2.10 per cent, Realty 2.02 per cent, Power 1.80 per cent, Services 1.60 per cent, metal rose 1.28 per cent, Telecommunication 1.18 per cent.
Information Technology fell 0.99 per cent, Teck (0.84 per cent), Healthcare (0.55 per cent), Auto (0.32 per cent) and FMCG (0.21 per cent) were the losers.
As many as 2,099 stocks declined while 1,732 advanced and 84 remained unchanged on the BSE.
On weekly basis, Sensex tanked 1,449 points while Nifty plunged by 426 points.
"The Nifty remained volatile within a narrow range during the day as investors awaited the election results. The highest call writing is visible at 23000, while there is significant put writing at 22500, indicating that the Nifty might oscillate between 22500 and 23000 in the next few days," Rupak De, Senior Technical Analyst, LKP Securities said.
Stocks of Adani group ended higher after the Gujarat-based company saw a 55 per cent profit surge in the fiscal year ended March 2024 as the apples-to-airport conglomerate is back on an expansion spree and eyeing a USD 90 billion capex over the next decade.
Jupiter Wagons shares settled nearly 6 per cent higher after the company got approval from Automotive Research Association of India to start manufacturing battery-operated light commercial vehicle.
On the other hand, Welspun Corp shares plunged over 8 per cent lower as its March quarter numbers failed to meet street estimates.
In Asian markets, Shanghai, Tokyo, Seoul and Hong Kong were closed on a mixed note. European stock markets were trading lower. Major indices on Wall Street ended lower on Thursday.
Global oil benchmark Brent crude went lower 0.40 per cent to USD 81.53 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,050.15 crore on Thursday, according to exchange data.