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market analysis: What helped D-Street end in the green after five sessions

Mumbai: Snapping their five-session shedding streak, Indian inventory indexes ended 1.3% up on Friday as investor sentiment was soothed by a pullback in US Treasury yields from 14-month highs. The indexes have been within the crimson within the earlier a part of the day with the Sensex falling as a lot as 1%, monitoring international market weak spot. The rebound in US bond costs saved the day for native equities–both benchmarks posting weekly positive aspects for the primary time after two weeks.

The Sensex ended 641.72 factors up at 49,858.24 and the Nifty ended 186.15 factors up at 14,744. Until Thursday, each indexes had dropped 4% within the previous 5 buying and selling classes as a consequence of worries about surging US bond yields.

Yields on 10-year Treasuries rose to 1.7% for the primary time since January 2020 on Thursday even after US Federal Reserve chairperson Jerome Powell reiterated Wednesday night time his pledge to maintain rates of interest close to zero, though he anticipated increased financial development and inflation within the nation this yr.

Cash managers stated the rise within the US bond yields may be overdone.

ET Bureau

“I’m of the view that yields might calm down from right here or stay the place they’re,” stated Andrew Holland, CEO of Avendus Capital Different Methods. “With a number of slowdown by way of shutdowns globally, I consider yields will come down globally and oil costs will go down.”
Overseas portfolio traders (FPIs) prolonged their purchases of native shares, pumping Rs 1,418.43 crore into the market. Home institutional traders additionally purchased equities, to the tune of Rs 559.62 crore.

Thus far in March, international traders have put near Rs 23,400 crore into India shares after investing Rs 21,960 crore in February and Rs 14,500 crore in January.

On Friday, NTPC was the highest gainer on the Sensex, ending 4.6% up, adopted by Hindustan Unilever, Energy Grid,

, ITC and UltraTech Cement that rose 2.4-4.4%. Larsen & Toubro and Tech Mahindra ended down 1.2% and 0.7%, respectively, among the many major laggards on the index.

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