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Domestic indices rise; HUL top gainer on Nifty 50

BENGALURU: Domestic indices on Thursday as stocks across the board rallied, with Hindustan Unilever leading the pack on the Nifty 50 index after it reported a rise in March-quarter profit.
The NSE Nifty 50 index was up 0.44% at 17,106.45, while the sensex rose 0.41% to 57,049.77.
Both the indexes fell sharply in the previous session as news of Russia cutting gas supplies to Eastern Europe, prospects of aggressive US interest rate hikes, and worries over surging inflation and stringent virus curbs in China hurt risk appetite.
On Thursday, Asian stocks also eked out gains after upbeat US tech earnings.
In India, Nifty’s FMCG index rose 0.8%, driven by a 2.5% jump in Hindustan Unilever after the firm’s quarterly profit rose and beat analysts’ estimate.
Shares of Reliance Industries rose 0.7% to hover near record highs after the conglomerate said an investment company set up by Rupert Murdoch’s son James and former Disney India executive Uday Shankar will invest $1.8 billion in Reliance’s broadcasting business Viacom18.

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