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Domestic bourses continued to trade in fine contour on continued buying by funds and retail investors amid robust foreign fund inflows. Foreign Institutional Investors (FIIs) were stood as net buyers in the capital market as they purchased shares worth Rs 2,132.42 crore on Friday, exchange data showed. Additional support also came as External Affairs Minister S Jaishankar said India has made powerful efforts to grow its economy and emerge as a higher-income country, and expressed hope that it will be the fastest growing major economy in the world this year with at least 7 per cent growth despite the challenges posed by the Ukraine crisis. All sectoral indices were trading firm and IT was the top gainer on BSE, up by 1.81% followed by TECK Basic Materials and Realty indices, trading up over 1%. Apart from blue chips, broader indices too equally participated in the rally with both mid and small cap indices trading up in the range of 0.84%-1.03%. On the global front, Asian markets were trading mostly in green.

The BSE Sensex is currently trading at 60250.22, up by 457.08 points or 0.76% after trading in a range of 59912.29 and 60259.72. There were 24 stocks advancing against 6 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.84%, while Small cap index was up by 1.03%.

The top gaining sectoral indices on the BSE were IT up by 1.81%, TECK up by 1.59%, Basic Materials up by 1.44%, Realty up by 1.34% and Consumer Durables was up by 1.10%, while there were no losing sectoral indices on the BSE.

The top gainers on the Sensex were Tech Mahindra up by 2.79%, Infosys up by 1.99%, Axis Bank up by 1.88%, Titan Co up by 1.81% and Bajaj Finance was up by 1.61%. On the flip side, Indusind Bank down by 0.21%, HDFC down by 0.21%, Mahindra & Mahindra down by 0.14%, Dr. Reddy's Lab down by 0.12% and Sun Pharma was down by 0.08% were the top losers.

Meanwhile, External Affairs Minister S Jaishankar has said that despite the world is facing many fallouts of the Ukraine crisis such as rising oil prices, India is confident that it will be the fastest-growing major economy in the world this year with at least 7 per cent growth. He also highlighted that India has made powerful efforts to actually grow its economy and to move towards becoming a higher-income country.

Jaishankar said ‘a lot of this required a vision, prudent management of our fiscal resources. It has required policies which made it easier for banks to lend ... to make it easier for small and medium companies to get lending, for self-employed people to get lending’. He noted that that India thinks about the ways in which it can change its credit, banking, education and labor policy.

He further said ‘many big reforms have taken place and we can see the result of that in two very interesting developments. In the year ending 31 March, 2021 we have posted the highest export that we have ever done. Our total exports were $670 billion. We had to trade in goods for $400 billion’.

The CNX Nifty is currently trading at 17958.45, up by 125.10 points or 0.70% after trading in a range of 17889.15 and 17971.50. There were 41 stocks advancing against 9 stocks declining on the index.

The top gainers on Nifty were Adani Ports up by 3.20%, Tech Mahindra up by 2.88%, Infosys up by 2.04%, Axis Bank up by 1.83% and Titan Co was up by 1.80%. On the flip side, Coal India down by 2.36%, Shree Cement down by 0.99%, HDFC down by 0.26%, Mahindra & Mahindra down by 0.25% and NTPC was down by 0.24% were the top losers

Asian markets were trading mostly higher; Nikkei 225 surged 327.36 points or 1.16% to 28,542.11, Taiwan Weighted strengthened 224.01 points or 1.54% to 14,807.43 and Straits Times was up by 11.62 points or 0.36% to 3,274.57. On the flip side, Jakarta Composite was down by 20.62 points or 0.28% to 7,222.04.

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