Sensex up 100 pts, Nifty holds 17,900; GCPL down 3%, Wipro rises 2%

Suported by firm trends across Asian markets, the frontline S&P BSE Sensex jumped 90 points in early deals to 60,740 levels on Friday. The NSE Nifty50, meanwhile, held the 17,900-mark, rising 30 points.

The pack that led the gains was auto stocks, followed by metals, and PSU bank stocks.

In the broader markets, the BSE MidCap index added 0.31 per cent, and the BSE SmallCap index advanced 0.5 per cent.

Buzzing stocks

Shares of Godrej Consumer Products fell 2.7 per cent after the company acquired Raymond’s consumer care business – Raymond Consumer Care in an all-cash deal of Rs 2,825 crore. Raymond shares, meanwhile were also down 2.7 per cent.

Wipro, on the other hand, rallied over 2 per cent. The IT services company’s consolidated net profit declined 0.4 per cent to Rs 3,074.5 crore in Q4FY23 from Rs 3,087.3 crore a year ago, owing to macro uncertainties, and cut downs on discretionary spending in key verticals.

Those of Axis Bank were flat with a positive bias. The private sector lender reported a Rs 5,361 crore loss on a consolidated basis in Q4FY23, as against a net profit of Rs 4,417 crore a year ago, impacted by the Rs 12,490 crore payout towards the Citi acquisition.