Indian equity markets pulled off a five-session streak on Friday, which is a matter of concern over higher bond yields with HUL, Reliance, ITC and PSU shares gaining 1.3% from the previous select stocks.
However, the S&P BSE Sensex rose 642 points to 49,858 or 1.3% in the index.
The NSE Nifty 50 index rose 186 points to 14,744 or 1.28% higher.
The research head of MK Wealth Management, Drs. Joseph Thomas said, all major indices including banking, IT, pharma and healthcare and technology gave the indices the necessary push to grow.
“This is in stark contrast to the declines seen in the eastern markets and early days [trade in ] Europe. Looking at the sale earlier this week, some less cover could be given, and the fall in oil prices was a relief with some improvements.
“But issues surrounding high US yields will continue in the markets in the coming weeks. The Fed sees growth and the Fed sees inflation, and therefore, yields will be high, ”he said.
Dr. Thomas said that equity could result in a limited way in the coming days.
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