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RIL, HDFC Bk drag Sensex 115pts, Nifty holds 17,450; indices up 19% in FY22

CLOSING BELL: Hindalco tumbled 5 per cent, followed by Divis Labs, Apollo Hospitals, RIL, Wipro, Eicher Motors, Dr Reddy's Labs, and Cipla

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SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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CLOSING BELL
Benchmark indices see-sawed in trade on Thursday as investors adjusted their positions ahead of the monthly F&O expiry. Besides, largely tepid global mood amid geopolitical and economic uncertainty after Russia's invasion of Ukraine kept gains in check.
The S&P started gap-up with gains of around 100-odd points, and extedned rally to hit a high of 58,891. However, selling in the second half of the session dragged the index to a low of 58,486. The index, eventually, closed at 58,568, down 115 points or 0.2 per cent. 

On the NSE, the Nifty50 gyrated between 17,560 and 17,435 before settling at 17,465, down 33 points or 0.2 per cent. 

The MidCap and SmallCap indices, meanwhile, outperformed the frontline indices and closed 0.3 per cent higher each.

From a sectoral view point, the Pharma index slipped 1.3 per cent, followed by the PSU Bank index (down 0.8 per cent) and IT index (down 0.4 per cent).

Among gainers, the FMCG index advanced 1.2 per cent, while the Private Bank and Realty indices added 0.3 per cent each.

Gainers and losers
M&M, JSW Steel, Britannia, HUL, Axis Bank, Tata Consumer Products, ONGC, Hero MotoCorp, and IndusInd Bank were the leaders on the Nifty today, rallying upwards of a per cent each.

On the flipside, Hindalco tumbled 5 per cent, followed by Divis Labs, Apollo Hospitals, RIL, Wipro, Eicher Motors, Dr Reddy's Labs, and Cipla. 

Within the broader market space, Adani Power, Tata Communications, HAL, Kansai Nerolac, Oil India Ltd, Edelweiss Financial Services, Shaily, and DFM Foods were the outperformers, soaring between 6 per cent and 15 per cent.

Outlook FY23
The Indian have delivered remarkable gains in FY22. Both the S&P and the Nifty 50 benchmarks soared 33 per cent each recording new historic peaks of 62,225.40 and 18,604.45, respectively.

The indices continued to scale higher levels and carry over the bullish sentiment it secured in FY21. Although, the last quarter of FY22 did see some correction amid the Russia-Ukraine war and spike in crude oil prices, the underneath sentiment continues to favour the bulls. READ MORE

Global markets
European stocks were mixed on the last trading day of March, with the pan-European Stoxx 600 hovering fractionally below the flatline by mid-morning. On Wall Street, Dow Jones and S&P 500 Futures were flat while Nasdaq Futures were up 0.4 per cent.

Among Asian indices, Hang Seng slipped 1 per cent, Japan's Nikkei ended 0.7 per cent down, and Australia's ASX200 eased 0.2 per cent. On the flipside, South Korea's Kospi added 0.4 per cent. 

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