After a chaotic day of trading on Thursday, May 9, when the major indices declined by over 1 per cent, the Indian indices returned to green grounds on Friday, May 10. Stock markets ended Friday on a relatively positive note.
Markets Recover From Previous Day’s Bloodbath
The 30-share BSE Sensex closed at 72,664.47, marking a gain of 260.30 points or 0.36 per cent. Similarly, the NSE Nifty ended at 22,055.20, up by 97.70 points, or 0.44 per cent.
Nevertheless, Nifty Bank declined by 66.80 points, or 0.31 per cent to settle at 47,421.10.
The NTPC and Power Grid, both public sector undertakings, surged. Here, NTPC gained 2.80 per cent. Meanwhile, Power Grid gained 2.63 per cent.
Some banking shares also bloomed in green. Interestingly, all the major tech stocks listed on the market ended in red. Tech Mahindra, HCL and Wipro ended the day with a decline of under 1 per cent.
Interestingly, all the major tech stocks listed on the market ended in red. Tech Mahindra, HCL and Wipro ended the day with a decline of under 1 per cent. | Representative Image
Tech Stocks Drop To Red
Tech Mahindra lost 0.19 per cent. HCL dropped 0.59 per cent. Wipro declined 0.71 per cent. Infosys dropped close to a single per cent by the end of the day. TCS was the biggest loser of them all, as the Mumbai-based company lost 1.62 per cent.
This recovery is also consistent with the numbers with which the major Asian indices ended the last trading day of the week. Marquee Asian indices ended the day in green.
Japan’s Nikkei ended the day’s trade on a positive note at 38,229.11, gaining 0.41 per cent. Hong Kong’s Hang Seng ended at 18,963.68, gaining 2.30 per cent. Meanwhile, the South Korean KOSPI also ended in green, gaining 0.57 per cent to reach 2,727.63. Shangai-based CSI 300 Composite ended flat on 3,154.
In addition, despite the rambunctious developments, Indegene’s IPO as per reports received a boisterous demand from investors across categories. The Initial Public Offering that started on May 6 and ended on May 8, saw the offering being subscribed 70 times.
