Sensex, Nifty end flat, again; ITC rallies 2%, RIL little changed ahead of Q4 nos
Stock market today: The S&P BSE Sensex closed the session at 59,655.06, up 22.71 points, or 0.04 per cent while the NSEs Nifty50 ended at 17,621.05, down 0.019 per cent.
The domestic equity market once again settled on a flat note on April 21. The S&P BSE Sensex closed the session at 59,655.06, up 22.71 points, or 0.04 per cent while the NSE's Nifty50 ended at 17,624.05, down 0.023 per cent.
ITC (up nearly 2 per cent) emerged as the top gainer on the Sensex while Tech Mahindra (down over 2 per cent) was the top loser. Reliance Industries (RIL) ended flat ahead of its March quarter numbers due later this evening. Apart from ITC, other stocks that supported the 30-share index were TCS, HDFC, and Asian Paints.
"Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Weak signals of a softening job market and declining manufacturing activity in the US have raised fears of a possible recession. Despite the RBI MPC’s unanimous decision to pause rates, its minutes revealed that its members continue to hold concerns about high inflation. However, the market received some support towards the closing bell from the IT and FMCG sectors, facilitating its recovery," said Vinod Nair, Head of Research at Geojit Financial Services.
Buzzing stocks
HCL Technologies ended over 1 per cent higher at Rs 1,048.90 after the company fared better than its peers TCS and Infosys in Q4 earnings. Another IT company, Cyient, too, ended with impressive gains. The stock surged over 6 per cent to Rs 1,159.40 on the BSE after the company posted a strong set of numbers for the March quarter. During the session, the scrip hit a 52-week high of Rs 1,194.10 on the BSE.
In the broader market, the S&P BSE MidCap index slipped 0.36 per cent to 24,844.97 levels while the S&P BSE SmallCap index settled 0.27 per cent lower at 28,234.26 points.
Global markets
Global stocks struggled on Friday as investors pored over economic data for clues on the likelihood of more interest rate hikes and possible recession in the United States as a new earnings season unfolded. The dollar edged up and looked set for its first weekly gain in more than a month on Friday. Oil prices also crept higher but were still on track for a hefty weekly loss, as per a Reuters report.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.