Sensex Today: Domestic markets were volatile in Friday’s trade, amid mixed global cues. Key indices Nifty50 traded flat above 17,050 levels, whereas the S&P BSE Sensex gained over 100 points to trade around 58,054 levels.
Broader markets, meanwhile, were mixed as Nifty Smallcap 100 index gained marginally higher than Nifty Midcap 100 index.
Sectorally, Nifty IT index gained the most, over 1 per cent, whereas Nifty Realty index lost up to 0.2 per cent.
Among individual stocks, shares of Bajaj Hindusthan Sugar gained over 2 per cent after it acquired two companies worth Rs 800 crore.
Besides, shares of Nibe surged over 2 per cent after it acquired remaining 50 per cent stake in Indigenous Casting Technology.
AMC stocks tumble as govt likely to propose LTCG changes to debt MF schemes
In a move to remove the tax advantage enjoyed by debt mutual funds over bank fixed deposits, the government has proposed to tax gains arising from debt MFs at the investor’s slab rate, irrespective of the investment period.
Shares of asset management companies (AMCs) witnessed sell-off pressure in early trade. HDFC AMC was trading almost 4 per cent lower at 9.15 am.UTI AMC and Aditya Birla Sun Life AMC were down almost 2 per cent. Nippon AMC was trading 1 per cent lower.
Global Cues
Asian shares were lower on Friday as lingering banking stability concerns gripped Wall Street, while bonds bet the recent slew of rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, erasing some of the recent gains to be up 1.7% for the week. Japan’s Nikkei also slid 0.4%.
Tokyo shares opened lower Friday as global investors weighed fresh interest rate hikes by central banks and signs of a possible pause in US monetary tightening.The benchmark Nikkei 225 index fell 0.31 percent, or 84.69 points, to 27,334.92 at the open, while the broader Topix index slid 0.39 percent, or 7.64 points, to 1,949.68.
All three major U.S. stock indexes reversed an earlier rally, turning red before clawing their way back to positive territory in the final hour as Yellen resumed her congressional testimony.
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