BUSINESS

Key domestic indices log gains of about one percent

• 27 May 2023

The key domestic indices logged gains of about one percent on Friday. The index of the top 30 companies on the Bombay Stock Exchange, Sensex, closed above 62,500 points while Nifty, the index of the top 50 companies at the National Stock Exchange, settled near the 18,500 level.  Both stocks added amid mixed global cues. The Sensex appreciated 629 points, or 1.02 percent, to finish at 62,502. The Nifty also climbed 178 points, or 0.97 percent, to end at 18,499.

In the forex market, the rupee appreciated 17 paise to close at 82 rupees and 57 paise against the US dollar.

Gold prices, at Multi Commodity Exchange for June contracts, were trading at around 59,586 rupees per 10 gram. On the other hand, silver was trading at 71,082  rupees per kilogram for July Contracts when reports last came in.

Oil prices were up despite conflicting statements from Russia and Saudi Arabia ahead of the next OPEC policy meeting and worries of weaker-than-expected demand growth. Brent crude was trading at 76 dollars and 80 cents per barrel.