Indian shares eked out modest gains in cautious trade on Friday as investors awaited the all-important U.S. jobs report due later in the day for directional cues.
Underlying sentiment was underpinned by the passage of U.S. debt ceiling bill by the Senate and hopes that the Federal Reserve might skip raising interest rates at its next policy meeting.
The rupee traded higher on the back of a weaker dollar in overseas markets while oil prices extended Thursday’s rally ahead of OPEC+ policy meeting.
The benchmark S&P/BSE Sensex ended the session up 118.57 points, or 0.19 percent, at 62,547.11, while the broader NSE Nifty index settled 46.35 points, or 0.25 percent, higher at 18,534.10.
Mid-cap and small-cap stocks continued to see heavy buying, with the respective indexes on BSE closing up around 0.6 percent each.
Hero Moto Corp rallied 3.1 percent and Maruti Suzuki India added 1.8 percent after posting strong monthly sales for May.
Metal stocks such as Tata Steel and Hindalco gained 2-3 percent as commodity prices surged in international markets on the back of a weaker dollar.
Apollo Hospitals Enterprise rose 3 percent to extend recent gains after reporting strong quarterly results.
Adani Enterprises led losses to end down more than 2 percent while HDFC Life and BPCL both fell over 1 percent.
Market Analysis
Sensex, Nifty End Modestly Higher Ahead Of US Jobs Data
2023-06-02 10:30:49
