Sensex, Nifty close steady; Markets recovering fast in Reliance, HDFC Bank, HDFC

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Mumbai. In volatile trade, the BSE Sensex closed with gains on Friday, recovering from a fall of over 722 points. Reliance Industries, which has a strong market presence, HDFC Ltd. And the benchmark index recovered from the fall due to gains in HDFC Bank. The 30-share Sensex fluctuated over 985 points. In the end, it closed at 52,344.45 with a slight gain of 21.12 points, or 0.04 percent. At the same time, the Nifty of the National Stock Exchange closed at 15,683.35, down 8.05 points, or 0.05 percent, marginally.

During trading, it went up to 15,761.50 in the high and 15,450.90 in the low. Among the shares included in the Sensex, 18 shares were in gains while 12 were in losses. ONGC’s stock was the biggest loser with a fall of about 4 per cent. Apart from this, NTPC, PowerGrid, Mahindra & Mahindra, Nestle India, State Bank of India and HCL Tech also declined. On the other hand, other stocks including HUL, Bajaj Auto, Bharti Airtel, Bajaj Finserv and IndusInd Bank were among the gainers. Reliance Industries, HDFC Bank and HDFC Ltd. There was also an increase in the price, due to which the Sensex closed with a gain.

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During the week, the Sensex was down 130.30 points, or 0.24 per cent, while the Nifty lost 116 points, or 0.73 per cent. Vinod Nair, Head of Research, Geojit Financial Services, said, “The market is in a constant phase of reinventing itself. All-round selloff was witnessed with indications from the Federal Reserve amid a mixed trend globally. US bond yields have softened from higher levels. This makes it appear that the market has completely absorbed what the Federal Reserve says.”

He also said that the recent plans to send metal reserves to China to deal with the sharp rise in metal prices have weakened the sentiment on the sector. In other Asian markets, Hong Kong and Seoul edged up while Shanghai and Tokyo ended with losses. Major markets in Europe were in a downtrend in early trade. International oil benchmark Brent crude fell 0.73 percent to $72.55 a barrel. The rupee exchange rate ended 22 paise higher at 73.86 against the US dollar. (agency)

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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