Stock market updates: Bulls ruled on Dalal Street on Friday, the first day of the June F&O series, as a trinity of steady decline in Covid-19 cases, announcement of unlocking in the national capital, and $6 trillion fiscal stimulus in the US held up investor confidence.
The benchmark Nifty index scaled a fresh record peak of 15,469.6 on the National Stock Exchange (NSE) today, surpassing its previous record peak of 15,432 hit on February 16. The index traded higher for the sixth consecutive session as India recorded its lowest daily count of new Covid-19 cases in 44 days. The country, on Thursday, logged 186,364 fresh virus cases while death remained below 4,000-mark.
Add to it, Delhi Chief Minister Arvind Kejriwal announced earlier on Friday that the national capital will begin to unlock from Monday and said that construction activities and factories will be reopened from May 31.
That apart, Grasim, Adani Ports, M&M, Eicher Motors, Coal India, HDFC, Kotak Bank, and IndusInd Bank remained the top gainers of the day, up between 1 per cent and 3 per cent. On the downside, Sun Pharma, ICICI Bank, Bajaj Finserv, NTPC, PowerGrid, Shree Cement, and Nestle India were the top laggards, down up to 4.5 per cent.
Broader markets, however, settled the day in the red on the back of profit-booking. The BSE Midcap index fell 0.12 per cent and the BSE SmallCap index dropped 0.48 per cent.
In terms of sectoral partcipation, the Nifty PSU Bank index gained 0.7 per cent, followed by the Nifty Private Bank index, up 0.3 per cent. On the contrary, the Nifty Pharma index slipped 1.2 per cent on the NSE.
European shares rose to a record high on Friday as UK-exposed financial stocks gained following a hawkish comment from a Bank of England official, with the prospects of increased US fiscal spending boosting market sentiment. That apart, European economic sentiment and consumer confidence data, which is due later in the day, is also expected to show an improvement in May.
Given this, the pan-European STOXX 600 index rose 0.5 per cent to a record high of 448.55 points and was set to add about 0.8 per cent this week. German stocks also added 0.4 per cent, as the country planned to offer adolescents Covid-19 vaccine shots from early-June.
Earlier in Asia, Japan’s Nikkei climbed 2 per cent, South Korea’s Kospi gained 0.7 per cent, and Australia’s S&P/ASX200 rallied 1.2 per cent.