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Sensex ends choppy day 105 points higher; IT stocks lead; Financials weigh

CLOSING BELL: Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners

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SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Market LIVE: Sensex up 200 points; IT index gains 2%, Godrej Industries 6%
CLOSING BELL

Stock market highlights: 
Benchmark indices climbed on Friday as investors cheered chair Jerome Powell's comment that the US may be able to avoid a "deep recession" despite aggresive rate hikes. The S&P Sensex, which had erased all the morning gains during the day, clawed back to end at 59,793, up 105 points or 0.18 per cent. 

The Nifty50, on the  other hand, settled at 17,833, higher by 35 points or 0.19 per cent. In the broader markets, the Nifty MidCap 100 added 0.35 per cent, while the Nifty SmallCap100 edged 0.06 per cent up.

Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners, while Astral, Godrej Industries, Bajaj Holdings and Investments, All Cargo Logistics, Nazara Technologies, and Stove Kraft were the top broader market gainers.

Sectorally, the Nifty IT index jumped the most, up 2 per cent, while the Nifty Financial Services and Realty indices dipped 0.5 per cent each.

Global cues
European were higher Friday, as investors reacted to a record rate hike by the European Central Bank and further comments from Federal Reserve Chair . The pan-European Stoxx 600 was up 1.5 per cent in morning trade, with all sectors trading in the green. Basic resources were 4.4 pe cent higher, while banks were up 2.6 per cent.

In Asia, Nikkei gained 0.53 per cent, Hang Seng soared 2.7 per cent, and Kospi added 0.3 per cent.

On Wall Street, futurs linked to the three main indices indicated a positive start later today.

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