Today India stock market- exchange

The Indian stock market ended on a positive note on Friday, May 26, 2023, as investors cheered the easing of Covid-19 restrictions and the improving economic outlook. The benchmark NSE Nifty 50 index rose 0.41% to close at  18,203.40 points, while the BSE Sensex index gained 0.48% to settle at  61,729.68 points. Both indices hit record highs during the session.

The market breadth was positive, with 30 out of 50 Nifty stocks advancing and 20 declining. The top gainers on the Nifty were  Adani Ports and Special Economic Zone, Adani Enterprises, Tata Motors, Tech Mahindra and Infosys, while the top losers were Divi's Laboratories, Britannia Industries, Oil and Natural Gas Corporation, NTPC and Hero MotoCorp.

Among the sectoral indices, the Nifty IT index outperformed with a 1.67% rise, followed by the Nifty Auto index with a 1.33% increase. The Nifty Metal index was the only laggard, falling 0.38%. The Nifty Bank index and the Nifty Financial Services index also closed higher by 0.50% and 0.29%, respectively.

The market sentiment was boosted by the news that India's daily Covid-19 cases fell below 100,000 for the first time in two months, while the vaccination drive picked up pace. The government also announced that it would ease lockdown restrictions in several states from June 1, allowing more economic activities to resume.

The market also took cues from the global markets, which were mostly positive on Friday. The US stocks closed higher on Thursday, as investors shrugged off inflation worries and focused on the recovery prospects. The Asian stocks also rose on Friday, following the US lead and upbeat data from China and Japan.

The Indian rupee appreciated against the US dollar on Friday, as the foreign institutional investors (FIIs) turned net buyers in the Indian equity market. The rupee closed at 72.86 per dollar, up 0.16% from its previous close of 72.98 per dollar.

The Indian stock market is expected to remain positive in the near term, as the Covid-19 situation improves and the economic recovery gains momentum. However, some volatility may be seen due to global factors such as inflation concerns, geopolitical tensions and policy changes.