Stocks to buy or sell: The Sensex and Nifty 50, key domestic equity benchmarks, concluded Saturday’s trading session with upward momentum, extending their three-day rally. Fresh inflows of foreign investments and favourable international market signals propelled this.
In the second special trading session, the 30-share BSE Sensex concluded at 74,005.94, marking a gain of 88.91 points, or 0.12%. Meanwhile, the NSE Nifty 50 surged to 22,502.00, indicating an increase of 35.90 points, or 0.16%. Across the broader market spectrum, the Nifty Midcap 100 saw a 0.51% uptick, while the Nifty SmallCap 100 benchmark indices experienced a 0.82% rise. The India VIX, serving as the fear gauge index, concluded Saturday’s session with a 3.67% increase.
Also read: Week Ahead: US Fed chair speech, Q4 results, FII activity, global cues among key market triggers next week
“The domestic market has sustained its recovery momentum from recent lows, bolstered primarily by positive signals from its global counterparts and better-than-anticipated earnings from index heavyweights. Mid- and small-cap stocks outperformed the broader index this week despite concerns over high valuations. The broader market remained positive, driven by persistent buying in heavyweight sectoral stocks,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nair added, “However, uncertainties persist regarding the timing of US Fed rate adjustments, with market participants eagerly awaiting clarity from an upcoming Fed chair speech. Next week, the release of PMI data from both the US and India for May will be closely monitored for further market insights….
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