Market Highlights: After six sessions of decline, the indices recovered on Friday, with all sectors turning green. The rally was led by heavyweight indices such as IT, Bank, Finance, Metal, and Realty.
On Friday, Asian shares followed Wall Street futures higher as Amazon provided some welcome earnings relief, while bonds were able to maintain their rally amid signs of easing US inflation.
Oil prices rose on Friday, regaining ground after falling more than $2 per barrel the previous session, as fears of a wider Middle East conflict abated and the United States, the world’s largest oil consumer, showed signs of weakening demand.- Market Highlights
After six sessions of losses, India’s blue-chip stocks rose on Friday, as US treasury yields fell following weaker-than-expected inflation data, easing some rate-related concerns.
The NSE Nifty 50 index rose 190 points to close at 19,047, reclaiming the 19,000 mark, while the S&P BSE Sensex gained 635 points to close at 63,782. Both indices, however, lost around 2.5% this week. Gains were recorded in all 15 major sectors.
Cipla, Coal India, Axis Bank, and Maruti Suzuki all increased by around 3%. Nestle India and HCL Tech both gained more than 2% today. ITC and Dr. Reddy’s both fell slightly in today’s trading.
All sectoral indices are up, with IT, PSU Bank, Metal, Finance, Realty, and Media all up more than a percent.
The Nikkei 225 index in Japan recovered after suffering its worst drop in three weeks in the previous session, with chip-related stocks leading the way.
The Nikkei gained 1.27%, while the Topix gained 1.37%. However, the Nikkei fell 0.86% for the week, while the Topix fell 0.04%.
Chinese stocks rose for a fourth session after data showed industrial firms’ profits extended gains in September, while policy measures boosted sentiment.
At the close, the blue-chip CSI 300 Index was up 1.4%, while the Shanghai Composite Index was up 1%. The Hang Seng Index and the Hang Seng China Enterprises Index in Hong Kong both finished roughly 2% higher. The CSI 300 gained 1.5% for the week, while the Hang Seng gained 1.3%.
European stocks fell as a drop in shares of British lender NatWest following a downbeat forecast outweighed gains in energy stocks.
The UK’s FTSE 100 fell as NatWest Group’s annual profit forecast was downgraded, but strong performances in commodity-linked stocks limited the further decline.
