Markets end on mixed note; Sensex climbs over 224 pts, Nifty dips 6 pts

The other major winners included IndusInd Bank, Hindustan Unilever, Infosys, Wipro, HCL Technologies, Tata Consultancy Services and ICICI Bank

sensex, BSE
Press Trust of India New Delhi
2 min read Last Updated : Feb 02 2023 | 11:10 PM IST
Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the NSE Nifty dipped almost 6 points in a see-saw session – the 50-share index weighed down by continuous selling in Adani Group stocks.
 
The 30-share BSE benchmark Sensex advanced 224.16 points or 0.38 per cent to settle at 59,932.24. During the day, it hit a high of 60,007.67 and a low of 59,215.62.
 
However, the broader NSE Nifty dipped 5.90 points or 0.03 per cent to end at 17,610.40.
 
ITC jumped 4.74 per cent to top the Sensex gainers' chart for the second straight day. The other major winners included IndusInd Bank, Hindustan Unilever, Infosys, Wipro, HCL Technologies, Tata Consultancy Services and ICICI Bank.
 
However, NTPC, HDFC, Titan, Tata Steel, Power Grid, Bajaj Finance and HDFC Bank were the prominent laggards. Titan slipped 1.80 per cent after the Tata group firm reported a 9.78 per cent decline in consolidated net profit to ~913 crore for the December quarter, impacted by higher expenses. "Despite a growth oriented Budget, drop in crude prices and upside in the global market, the domestic market is not able to gain because of the Adani saga having a ripple impact on the investors.
 
"In addition, the premium valuation of India continues to weigh down the performance compared to other emerging markets which are expecting upside in the economy. The global markets are positive in assumption of being in the last phase of the rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services.


 
World stocks advanced after the US Federal Reserve increased the interest rate by 25 bps on expected lines but Fed Chair Jerome Powell said a "disinflationary" process was underway, boosting expectations of a pause in the rate hike cycle.
 
Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai ended in the green, while Hong Kong settled lower.
 
Equities in Europe were trading higher during mid-session deals. Markets in the US had ended in the positive territory on Wednesday.
 
"The rout in Adani group stocks continued to play havoc as benchmark indices gyrated sharply intraday before recouping lost ground on buying in IT and banking stocks.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :SensexMarketsNifty

Next Story