Stock Market Highlights: Nifty, Sensex End Higher But Log Weekly Decline After See-Saw
The NSE Nifty 50 closed 243.45 points, or 0.99% higher at 24,853 and the BSE Sensex ended 769 points, or 0.95% up at 81,721.
The benchmark equity indices closed higher on Friday after a day's respite, amid volatility in domestic markets.
The NSE Nifty 50 closed 243.45 points, or 0.99% higher at 24,853 and the BSE Sensex ended 769 points, or 0.95% up at 81,721. During the day, the Nifty 50 gained 1.22% to 24,909, while the Sensex gained 1.18% to 81,905.
"The Nifty opened on a flat note at 24,639 and briefly dipped to a low of 24,614, before staging a sharp rebound to touch an intraday high of 24,909. The index is currently trading near its day’s high, reflecting strong buying interest," said Sundar Kewat, technical and derivatives analyst, Ashika Institutional Equity.
Sectorally, strength was observed in Consumer Goods, IT, Consumption, Financial Services, and Banking stocks, while weakness persisted in Pharma and Healthcare sectors, said Kewat.
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Shares of IndusInd Bank Ltd., Eternal Ltd., HDFC Life Insurance Co., Jio Financial Service Ltd. and Power Grid Corp. were the top gainers.
While those of Sun Pharmaceutical Industries Ltd. and Grasim Ltd. were among the biggest laggards.
In terms of points contribution, HDFC Bank Ltd. and ITC Ltd. were among stocks that led the gains in the index.
Sun Pharmaceutical Industries Ltd. dragged the index the most.
On the NSE, 14 out of 15 sectors ended with gains. Nifty FMCG, Consumption and Finance were the top gainers.
In the broader market, the BSE MidCap and SmallCap underperformed the Sensex, but gained 0.47% and 0.39%, respectively.
The market breadth was skewed in the favour of buyers, as 3,331 stocks advanced, 1,612 declined and 159 remained unchanged on the BSE.
On a weekly basis, the Nifty 50 erased gains to end lower. The BSE Sensex also declined this week.
