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Wednesday, October 4, 2023

Markets close with gains after two days of decline

MUMBAI: The benchmark Sensex and Nifty stock indices closed higher on Friday after two days of decline, helped by buying in metals, telecom and auto shares amid firm trend in global markets.
Automakers led by Maruti Suzuki India, Hyundai, Mahindra and Mahindra reported strong passenger car wholesale sales and GST collections crossing Rs 1.50 lakh crore for the third consecutive month in May, adding to optimism.
The 30-stock BSE Sensex rose 118.57 points, or 0.19 percent, to settle at 62,547.11. During the day, it jumped 291.3 points, or 0.46 percent, to 62,719.84.
The NSE Nifty advanced 46.35 points, or 0.25 percent, to end at 18,534.10.
Tata Steel was the biggest gainer in the Sensex package, up almost 2 percent, followed by Maruti, Mahindra & Mahindra, Sun Pharma, Larsen & Toubro, Titan, Bharti Airtel, Power Grid, ITC, State Bank of India. and Nestle.
In contrast, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, IndusInd Bank, Tech Mahindra, Reliance Industries and Bajaj Finance were among the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong finished in the green.
Equity markets in Europe were trading in positive territory. US markets closed higher on Thursday.
GST collections saw a 12 per cent rise in May to more than Rs 1.57 lakh crore, according to official data released on Thursday.
Manufacturing activities in India advanced further, hitting a 31-month high in May, supported by a stronger increase in new orders and favorable market conditions, which in turn led to more job opportunities, a monthly survey said Thursday.
Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra and Toyota Kirloskar Motor on Thursday reported robust wholesale sales of passenger cars in the domestic market for May on strong demand for SUVs.
Brent crude, the world oil benchmark, jumped 1.74 percent to $75.57 a barrel.
Foreign institutional investors (FIIs) unloaded shares worth Rs 71.07 crore on Thursday, according to exchange data.
The rupee appreciated 9 paise to 82.31 (provisional) against the US dollar on Friday.
Falling for the second day in a row, the Sensex declined 193.70 points, or 0.31 percent, to settle at 62,428.54 on Thursday. The Nifty fell 46.65 points, or 0.25 percent, to end at 18,487.75.

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