Stock Market Highlights | Sensex, Nifty 50 gain for fifth day in a row, longest gaining streak in two months

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Stock Market Highlights | Sensex, Nifty 50 showed resilience and rebounded from early losses to close near the day’s high, continuing the winning streak for the fifth consecutive session. This marks the longest winning streak in two months.

The benchmark Sensex rose 487 points to reach 74,339, while the broader Nifty climbed 168 points to 22,570. The banking sector led the rally with the Nifty Bank gaining 306 points to 48,495. Most major banks ended the day in the green. Axis Bank gained 6% on the back of robust Q4 results. However, Kotak Bank stood as the only major bank to end in the red.

Multi Commodity Exchange (MCX) rose 8% amid reports of the company’s plans to introduce new products. Bharat Forage ended 7% higher following a positive brokerage note. Vodafone Idea gained 6% after the listing of its Follow-on Public Offering (FPO). Nestle closed with a gain of nearly 3% as the company’s earnings surpassed estimates.

Dalmia Bharat, Indian Hotels, and Oracle Financial Services Software (OFSS) slipped by 3% on lower-than-expected Q4 results. Laurus Labs reported a beat on its topline but missed margin estimates, leading to a 2% fall.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow