INDIAN EQUITY MARKET CLOSED WITH GAINS AFTER REGISTERING A 5 DAYS OF LOSING STREAK

Domestic Equity Market closed higher on Friday as bulls fought back to lift indices over a per cent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody's for India helped the markets snap 5-day losing streak.Net selling of FII/FPI was at Rs.1,418.43 crore while net buying of DII was at Rs.559.62 crore. The Sensex gained 641.72 points, or 1.30 percent to end at 49,858.24 with share of NTPC,HUL, Powergrid, Reliance,ITC, Ultratech Cement,Dr Reddy, Nestle India ,Bajaj Finance were having gains of 4.58%, 4.44%, 4.18%, 3.60%, 2.62%, 2.38%, 1.50%, 1.49%,1.49% respectively while shares of L & T, Tech Mahindra, Bajaj Auto, Maruti, Titan were having loss of 1.20%, 0.69%, 0.47%, 0.03%, 0.01% respectively. The Nifty closed 186.15 points, or 1.28 percent higher at 14,744.00 with Indexes like Energy, FMCG, Metal, Pharma, Media, Bank were having gains of 3.16%, 2.43%, 2.08%, 1.33%,0.94%, 0.90% respectively while Realty Index was the only loser with a loss of 0.53%.

TOP STOCKS IN NEWSCAST:

NTPC rose over 4% as the Public Sector Undertaking under Ministry of Power has been conferred the prestigious ‘Role Model’ Award at the 11th CII National HR Excellence Award 2020-21.

Powergrid surged over 4% as the corporation inks MOU for development of Badrinath as spiritual smart hill town.

ITC gained over 2% as on reports that the company is looking to demerge into 3 companies. Sentiment was also lifted after global brokerage firm Morgan Stanley initiated coverage on ITC with an ‘overweight’ rating.