5 Minutes Read
Stock Market Highlights | Nifty 50 holds on to 22,000, Sensex rises 260 points, Midcap index outperforms
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
Stock Market Highlights | The stock market concluded today’s session with fluctuations but managed to maintain a stable range, with the Nifty index holding above the 22,000 mark. Midcap stocks notably outperformed their larger counterparts, with the Midcap Index rising by 1% while the Nifty managed only a 0.4% increase.
Stock Market Highlights | The stock market concluded today’s session with fluctuations but managed to maintain a stable range, with the Nifty index holding above the 22,000 mark. Midcap stocks notably outperformed their larger counterparts, with the Midcap Index rising by 1% while the Nifty managed only a 0.4% increase.
Sensex rose by 260 points, closing at 72,664, while the Nifty gained 98 points to settle at 22,055. However, the Nifty Bank slipped by 67 points, ending the day at 47,421, even as the Midcap Index saw a significant rise of 423 points, closing at 49,532. Sensex, Nifty 50 snapped a two-week gaining streak, recording the largest weekly fall in two months.
BPCL emerged as the top gainer on the Nifty, up by 4%, driven by strong Q4 earnings that outperformed its Oil Marketing Company (OMC) peers. Asian Paints saw a rise of over 2% following short covering triggered by positive management commentary. Hero MotoCorp extended its gains from Thursday on the back of robust Q4 commentary, registering a 2% increase.
Cipla’s mixed Q4 earnings led to a 4% decrease from its highs, while Bank of Baroda reported an increase in slippages, resulting in a 3% decline. On the other hand, Polycab surged to a record high, up by 7% after its Q4 earnings surpassed estimates. Manappuram and Muthoot rose by 5% each following clarifications on an advisory issued by the RBI. Dr. Lal’s Path Labs reported healthy Q4 results, gaining more than 5%.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
