New Delhi: Indian shares rose on Friday on hopes of a stimulus package from the government. Positive global shares also boosted sentiments. The Sensex closed 199.32 points or 0.63% higher at 31,642.70, while the Nifty50 index settled 52.45 points or 0.57% higher at 9,251.50. According to reports, the government is working on a comprehensive financial package not only for MSMEs but for all sectors of the economy. Gains in the market were led by FMCG, pharma and IT stocks.
Top gainer & losers
Among Nifty stocks, HUL was the gainer, up 4,89% followed by Nestle, Tech Mahindra, Dr Reddy’s Lab and Sun Pharma, which gained between 3.69-3.89%. Shares of Reliance Industries, which announced that US-based private equity firm Vista Equity Partners will pump Rs 11,367 crore into Jio Platforms for a 2.32% stake, rose 3.61% to close at Rs 1,561.80 apiece on NSE. The company is just Rs 10,000 crore away to regain the Rs 10 lakh crore market cap tag.
Meanwhile, Axis Bank was the top loser in Nifty, down 3.85% followed by NTPC and M&M, which fell over 3.5% each. IndusInd Bank, SBI, JSW Steel, Maruti Suzuki, Titan Company, Hero MotoCorp, IOC, Bajaj Finance were the other prominent losers in the Nifty, falling between 1.74%-2.96%.
Market breadth remained negative today. Out of the 1,152 stocks traded on NSE, 664 stocks advanced while 888 shares declined.
The Indian rupee closed 18 paise higher at 75.54 against the US dollar on Friday. Forex traders said positive cues from domestic equities and significant foreign fund inflows seen on Thursday, supported the local unit.
Elsewhere, Asian shares closed with gains. Japna’s Nikkei gained 2.56%, Shanghai Composite added 0.83%, Taiwan Weighted gained 0.54% while South Korea’s Kospi settled 0.89% higher. European shares were also trading with gains. London’s FTSE was up 1.40%, CAC 40 index traded 1.05% higher while DAX was up 1.10%.