Kolkata: Sensex and Nifty opened in the green on Friday, May 22 as the investors kept battling US debt burden worries and the unnerving signal generated by the downgrading of the US credit rating by Moody’s earlier in the week. In early trade on May 23, Sensex was trading at 80,956.09, marginally up by 4.10 points 0r 0.0051% around 9:15 am. At the same time Nifty stood at 24,658.70 points, up 49.00, or 0.20%. However, in another 10 minutes, by 9:25, Sensex raced to 81,204.98 points, up 52.98 (or 0.31%), while Nifty surged to 24,718.50 points, up 108.80 points (or 0.44%).
Significantly both Sensex 30 and Nifty 50 lost about 0.8% on Thursday. Sensex 30 and Nifty 50 lost significantly with Sensex dipping 644.64 points or 0.79% to end the session at 80,951.99 points. Nifty 50 ended the trading session on May 22 at 24,609.70 points, down 203.75 points or 0.82%. At one point in the afternoon, Sensex was down by about 1,000 points under selling pressure but recovered a bit later.
Early gainers and laggards on NSE
According to NSE data, the big gainers in early trade on May 23 were HPL, MUFTI, NAHARPOLY, HONASA, COSMOFIRST, CENTUM, POWERMECH, EMCURE, UDAICEMENT and A2ZINFRA. On May 22, M&M, ITC, Bajaj Finserv, Tech Mahindra were among the prominent laggards and IndusInd Bank, Bharti Airtel, and UltraTech Cement were the prominent gainers.
Global cues positive
On Friday morning, GIFT Nifty was trading 0.12% up. Almost all key Asian market indices Nikkei, Hang Seng, Taiwan Weighted, Shanghai Composite and Kospi were trading in the green. Only Straits Times was in the red. In Europe FTSE (0.54%), CAC (0.59%) and DAX (0.51%) ended in the red. Of the US indices, Dow Jones (0.08%) and Nasdaq (0.28%) ended in the green while S&P500 ended in the red (0.04%). On Thursday, the Indian Rupee dipped 36 paise against the US Dollar to close at 85.95. The price of US bonds came down resulting in a rise in yields. Also a narrowing down of the yield differential between Indian and US securities take the shine off Indian assets. Worse, there was an upward pressure on crude oil prices.
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After battling worries about mounting US debt crisis and a rise in US bond yields, investors seemed to be gaining confidence back on Friday with both Sensex and Nifty opening in the green. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
