Scan to Download
Indian equity markets, which at one point looked set to snap its seven-day record breaking run, managed to recoup all its losses to end near the highest point of the day and gain for the eighth straight session.
The S&P BSE Sensex ended 0.7% higher at 43,593 while the NSE Nifty 50 index ended 1% higher at 12,757.
The Nifty Bank added another 270 points to the 4,700 points it had gained over the last seven trading sessions. The eight-day gaining streak for the banking index is the longest since March 2019.
The outperformers for the session though were Pharma and Metal stocks. Both the indices ended with gains of 3.5% each.
Other gainers were the Nifty Auto and Nifty I.T. index, which gained 1.6% each while the Nifty FMCG index too ended 1.2% higher.
The PSU Bank index ended 0.5% lower. Also underperforming was the Nifty Media index, which fell 0.3%.
Broader markets continued to lag the benchmarks this week. The Midcap index ended with gains of 0.4% while the Smallcap index gained 0.7%.
India Volatility Index gained for the second straight day, ending 2.1% higher at 22.
Market breadth was in favour of the gainers. 1,001 stocks on the NSE ended with gains while 820 stocks declined.
Is India’s Pharma Rally Over? Macquarie Says Not Yet
Gland Pharma IPO Subscribed 98% So Far On The Final Day
Asia’s Richest Man Takes on Amazon in India’s Booming Online Market
Passenger Vehicle Sales Rise For Third Straight Month
S Naren Explains How To Survive The ‘Central Bank Bull Market’ Climax
As compared to the last seven days, Indian equity markets have begun on a subdued note, but have opened higher for the eighth straight day.
The S&P BSE Sensex opened 0.4% higher at 43,444 while the NSE Nifty 50 index opened 0.4% higher at 12,680. The index has gained 1,000 points in the last seven trading sessions.
Among the sectoral indices, the Nifty Pharma index has opened 1% higher while the Nifty Auto and PSU Bank index are up 0.5% each. Rest of the indices have opened flat but with a positive bias.
Broader markets too have had a subdued start to the trading day after underperforming the benchmarks on Tuesday. The Midcap index has opened 0.45% higher while the Smallcap index has gained 0.1% at the start of trading.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
