Markets settle marginally higher in first part of special trading session


PTI, May 18, 2024, 10:46 AM IST

Equity benchmark indices ended marginally higher in the first part of a special trading session on Saturday, extending their rally to the third day running, amid fresh foreign fund inflows.

The 30-share BSE Sensex ended 42.60 points or 0.06 per cent up at 73,959.63. The NSE Nifty went up by 15.80 points or 0.07 per cent to 22,481.90.

Among the Sensex components, Nestle, Power Grid, IndusInd Bank, Tata Steel and Tata Motors were the major gainers.

JSW Steel, Mahindra & Mahindra, Maruti and ICICI Bank were the laggards.

Wall Street ended mostly higher on Friday.

”The Dow Jones Industrial Average has hit 40,000 for the first time, buoyed by optimism from a softer-than-expected April inflation report, which has increased bets on a September rate cut by the Federal Reserve.

”This positive sentiment extends to Indian markets, with the Nifty likely trading between 22,000-22,500, facing resistance at 22,500 and support at 22,000,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Foreign Institutional Investors (FIIs) turned buyers on Friday after days of unabated outflows. They bought equities worth Rs 1,616.79 crore on Friday, according to exchange data.

”Dow Jones closing in record territory above 40,000 will continue to provide global support for equity markets. A significant trend now is the FIIs turning buyers yesterday, and this takes away the pressure on the markets,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude rose 0.85 per cent to USD 83.98 a barrel.

The BSE benchmark climbed 253.31 points or 0.34 per cent to settle at 73,917.03 on Friday. The NSE Nifty advanced 62.25 points or 0.28 per cent to 22,466.10.

The National Stock Exchange (NSE) on May 7 said it will conduct a special trading session in the equity and equity derivative segments on May 18 to check its preparedness to handle major disruption or failure at the primary site.

The special live trading session will have an intra-day switchover from the Primary Site (PR) to the Disaster Recovery (DR) site.

In a circular, the exchange said there will be two sessions — the first from 9:15 am to 10 am from the PR, and the second from 11:30 am to 12:30 pm from the DR site.

Earlier on March 2 (Saturday), the BSE and NSE conducted a special trading session in the equity and equity derivative segments.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Siddaramaiah defends BPL ration card cancellation, says only ineligible beneficiaries affected

Related Articles More

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra

RBI cautions public about ‘deepfake’ video of governor being circulated on social media

We disagree with decision, plan to appeal: Meta on CCI imposing Rs 213-cr penalty

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Nursing student suicide: Three students arrested in Kerala

Sampaje: Financial fraud using Google Pay reported

Nadda’s letter to Kharge full of falsehoods: Cong

Kundapur: Several injured after insulator truck rams into Innova car on NH-66

Only ineligible BPL cards cancelled: Dinesh Gundu Rao

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.