Sensex, Nifty50 edge higher amidst volatility: PSU bank, realty and FMCG stocks rise

• India’s benchmark indices Sensex and Nifty50 edged up in mid-market trade on Friday amidst positive cues in global markets.
  
• PSU bank, realty and FMCG stocks helped the benchmark indices remain positive.
  
• Both the indices were up 0.23% – while the 30-stock Sensex was hovering at 62,564 points, the 50-stock Nifty50 was hovering at 18,530 points.
  

India’s benchmark indices Sensex and Nifty50 edged up in mid-market trade on Friday amidst positive cues in global markets. PSU bank, realty and FMCG stocks helped the benchmark indices remain positive.

Both the indices were up 0.23% – while the 30-stock Sensex was hovering at 62,564 points, the 50-stock Nifty50 was hovering at 18,530 points.

Top gainers and losers on Nifty50

Source: NSE, as on June 2, 2023
Earlier on Thursday, markets closed the day 0.3% in the red due to weak global cues.

Gold prices edged up to ₹60,300 per 10 grams while silver was hovering at ₹72,600 per kilogram. Crude oil prices gained as well, with Brent crude hovering at $75 per barrel.

Global markets rise on US debt ceiling progress

Global markets rose thanks to progress on the US debt ceiling proposal. Dow Jones closed 0.47% higher while S&P 500 gained 0.99%. The tech-heavy Nasdaq rallied 1.28%.

Asian markets were largely positive on Friday, led by Hang Seng which rallied 3.38%, followed by Taiwan Weighted which was up 1.15%. KOSPI gained 0.95% while Nikkei 225 was up 0.75%. Shanghai Composite was also up 0.71%.

Stocks to watch

Coal India: The government’s offer for sale received strong response, with the issue being subscribed 3.46 times on Thursday.

Maruti Suzuki: India’s leading car maker reported a 15.45% YoY rise in volumes in May to 1.44 lakh passenger vehicles from 1.24 lakh a year ago.

Hero MotoCorp: The two-wheeler manufacturer reported a 7% YoY growth in sales to 5.19 lakh units in May from 4.87 lakh units a year ago.

Tata Motors: Tata Motors reported a 6% YoY rise in its domestic passenger vehicle sales to 45,984 units in May from 43,392 units a year ago.

TVS Motor: The two and three-wheeler maker reported a 9% YoY rise in sales to 3.3 lakh units in May from 3.03 lakh units a year ago.

Adani Enterprises: Its subsidiary Adani Road Transport has terminated an agreement with Macquarie Asia Infrastructure for the acquisition of a 100% stake in Swarna Tolley, and a 56.8% stake in Gujarat Road and Infrastructure Company.

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