Sensex, Nifty End Choppy Session Modestly Higher

(RTTNews) - Indian shares eked out modest gains on Friday as investors exercised caution ahead of a long holiday weekend.

Indian financial markets will observe a trading holiday on Monday on account of Independence Day.

Underlying sentiment remained supported somewhat as signs of cooling consumer and producer price inflation in the United States prompted traders to pare bets of aggressive policy tightening by the Federal Reserve.

The upside, however, remained capped by rising oil prices and hawkish comments from top Fed officials pointing to more rate hikes this year and in 2023.

Amid mixed global cues, traders awaited retail inflation data due later in the day for further direction.

The benchmark S&P BSE Sensex gyrated around 425 points before finally ending the session up 130.18 points, or 0.22 percent, at 59,462.78.

The broader NSE Nifty index settled at 17,698.15, up 39.15 points, or 0.22 percent, from its previous close.

PSU stocks topped the gainers list, with Power Grid Corp, NTPC and ONC climbing 2-5 percent.

Tata Steel rallied 3.4 percent on brokerage recommendations. Tata Elxsi jumped 8.4 percent on the back of strong growth outlook.

Divis Laboratories led losses to close 5.8 percent lower followed by Apollo Hospitals Enterprise, Infosys, Maruti Suzuki India and Tata Consumer Products.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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