Mumbai, May 22: The Indian stock market ended on a positive note on Friday, buoyed by the strengthening of the domestic currency against the US dollar and a surge in banking and financial services stocks.
During the trading session, the BSE Sensex, comprising 30 shares, rose by 231.99 points, or 0.31%, closing at 75,415.35. Meanwhile, the Nifty 50 index gained 64.60 points, or 0.27%, finishing at 23,719.30.
In the broader market, the Nifty Midcap index increased by 0.14%, while the Nifty Smallcap index saw a decline of 0.15%.
Sector-wise, the Nifty Private Bank index surged by 1.49%, the Nifty Financial Services index rose by 1.13%, and the Nifty Bank index climbed by 1.15%. In contrast, the Nifty Healthcare index fell by 1.52%, the Nifty Media index dropped by 1.47%, and the Nifty Pharma index decreased by 1.27%.
Among the top gainers in the Nifty50 index were Trent, Shriram Finance, Axis Bank, ICICI Bank, Wipro, and Asian Paints. Conversely, Max Healthcare, Sun Pharma, ONGC, ITC, and Powergrid were among the day’s worst performers.
Additionally, the total market capitalization of companies listed on the BSE increased from ₹462 lakh crore to ₹463 lakh crore, providing investors with a profit of approximately ₹1 lakh crore during this session.
In the commodities market, uncertainty surrounding the US-Iran peace agreement led to a more than 2% spike in Brent crude oil prices, trading above $105 per barrel. Despite various diplomatic efforts, both parties have failed to resolve key issues of contention.
The Indian rupee strengthened by 51 paise against the dollar, reaching an intraday high of 95.69. It had closed at 96.20 per dollar on Thursday.
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