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Thursday, May 30, 2024

Following a two-day decline, markets recover thanks to purchasing in Reliance and Infosys and strong European shares


<p>Benchmark stock indexes had a remarkable recovery on Monday and finished the day in the green thanks to strong fag-end purchasing in index heavyweights Reliance Industries and Infosys as well as a good start in European markets.<img decoding=”async” class=”alignnone wp-image-126205″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-images-2023-08-14t173642.834-11zon.jpg” alt=”theindiaprint.com images 2023 08 14t173642.834 11zon” width=”1148″ height=”761″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-images-2023-08-14t173642.834-11zon.jpg 276w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-images-2023-08-14t173642.834-11zon-150×99.jpg 150w” sizes=”(max-width: 1148px) 100vw, 1148px” title=”Following a two-day decline, markets recover thanks to purchasing in Reliance and Infosys and strong European shares 3″></p>
<p>A gain of 79.27 points or 0.12% propelled the 30-share BSE Sensex higher to close at 65,401.92. It dropped 500.77 points or 0.76 percent over the day to reach 64,821.88.</p>
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<p>The NSE Nifty finished at 19,434.55 after gaining 6.25 points, or 0.03 percent.</p>
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<p>The top gainers from the Sensex pack were Infosys, Hindustan Unilever, Reliance Industries, ICICI Bank, Larsen & Toubro, Asian Paints, Nestle, Axis Bank, Wipro, and Kotak Mahindra Bank.</p>
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<p>The top laggards were JSW Steel, State Bank of India, Tata Steel, Bajaj Finserv, UltraTech Cement, IndusInd Bank, Tata Motors, and Bajaj Finance.</p>
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<p>Seoul, Tokyo, Shanghai, and Hong Kong all had negative closing prices on Asian markets.</p>
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<p>Markets in Europe were mainly trading in positive territory.</p>
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<p>The majority of US markets closed Friday down.</p>
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<p>Even though food prices increased, wholesale price-based inflation remained negative for the fourth consecutive month in July at (-)1.36% due to falling gasoline costs.</p>
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<p>According to exchange statistics, foreign institutional investors (FIIs) sold shares of stock worth Rs 3,073.28 crore on Friday.</p>
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<p>Benchmark Brent crude for all crude oil prices fell 0.33 percent to $86.52 per barrel.</p>
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<p>The BSE benchmark dropped 365.53 points (0.56%) to close at 65,322.65 on Friday. To finish at 19,428.30, the Nifty dropped 114.80 points, or 0.59 percent.</p>
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