Indian Stock Market Closes GREEN Friday Amid Positive Global Signals; Sensex finishes 684.64 points higher

New Delhi: Sensex, the benchmark of the Indian stock market, rose 685 points on Friday, led by strong buying support in IT and banking stocks amid positive signals from global equities. The 30 shares of S&P BSE Sensex closed 684.64 points or 1.20 percent higher at 57,919.97 points from the previous day’s closing at 57,235.33 points. Earlier, the Sensex started the day sharply higher at 58,162.74 points and rose to an intra-day high of 58,435.12 points. The Sensex offset some of the gains from profit taking in the last hour of trading. It hit an intra-day low of 57,848.23 points.

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On Thursday, the Sensex fell 390.58 points, or 0.68 percent. The National Stock Exchange’s broader Nifty 50 rose 171.35 points or 1.01 percent, closing at 17,185.70 points from the previous day’s closing price of 17,014.35 points.

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The Nifty had lost 109.25 points or 0.64 percent on Thursday. There was strong buying support for IT and banking stocks. Infosys’ stock price rose about 5 percent a day after the company announced buyback plans and posted a better-than-expected 11 percent jump in its consolidated net profit.

On the BSE, Infosys share closed 3.82 percent higher at Rs 1474.05. Trading in Infosys shares started sharply higher at Rs 1487.70 from the previous day’s close at Rs 1419.75. The price rose to a high of Rs 1494 during the day.

Infosys shares rose after the Q2 results announcement. The Infosys board of directors, at its meeting here on Thursday, approved the repurchase of shares, from the open market route through the Indian exchanges, amounting to Rs 9,300 crore (maximum redemption fee, excluding redemption tax) at a price not exceeding Rs 1,850 per month. share (maximum purchase price), subject to shareholder approval.

The board of directors also approved an interim dividend of Rs 16.50 per share versus FY 22 interim dividend of Rs 15. The total amount of the interim dividend will be approximately Rs 6,940 crore. India’s second largest IT services company said its consolidated net profit rose 11.1 percent year-on-year to Rs 6,021 crore for the second quarter of the current quarter. financial year as compared to Rs 5,421 core recorded in the corresponding period of the previous year. HCL Technologies rose 2.08 percent to Rs 1002.45. Tech Mahindra closed 0.67 percent higher at Rs 1019.55. However, TCS and Wipro closed in the red after trading with nice gains for most of the day.

The HDFC duo – HDFC Bank and HDFC – both rose about three percent. HDFC Bank rose 3.40 percent to Rs 1441.10. HDFC rose 2.69 percent to Rs 2344.85. Only 10 of the 30 scrips that make up the Sensex benchmark closed in the red. Mahindra & Mahindra fell 1.40 percent to Rs 1230.25. The index’s heavyweight Reliance Industries Limited closed 0.54 percent lower at Rs 2371. Asian Paints, Bharti Airtel, Power Grid Corporation and Maruti Suzuki were among the big Sensex losers.

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