Benchmark indices NSE Nifty 50 and BSE Sensex concluded the last trading session of the week in positive territory. The NSE Nifty 50 rose 46.35 points or 0.25% to 18,534.10 and the BSE Sensex jumped 118.57 points or 0.19% to 62,547.11. In sectoral indices, Bank Nifty surged 147.65 points or 0.34% to 43,937.85, Nifty Auto gained 0.92%, Nifty Metal jumped 1.22% and Nifty Realty surged 1.42% while Nifty IT fell 0.40%. The top gainers on the Nifty 50 were Hindalco, HeroMotocorp, Apollo Hospitals, Tata Steel and Maruti Suzuki while the losers were Adani Enterprises, BPCL, HDFC Life, TCS and Wipro.
“This week the Indian market was volatile, however, it was able to regain momentum led by a positive domestic outlook accompanied by global cues. Auto stocks garnered attention as sales numbers for May came in strong, with a sequential recovery boosting sentiment across the sector. The hope that the Fed will refrain from a rate hike has provided comfort to the global equity market,” said Vinod Nair, Head of Research at Geojit Financial Services.