Auto, IT, PSU Bank, Fin service, pharma, FMCG, metal and realty were major gainers
On Friday, Indian equity indices finished in positive territory, driven by broad-based buying across all market segments. The National Stock Exchange (NSE) benchmark Nifty reached a new all-time high of 24,861, while the Sensex also closed close to its record peak.
By the end of the trading day, the Sensex had gained 1,292 points, or 1.62%, ending at 81,332. Meanwhile, the Nifty rose by 428 points, or 1.76%, closing at 24,834.
Among the sectoral indices, Auto, IT, PSU Bank, Fin service, pharma, FMCG, metal and realty were major gainers.
Bharti Airtel, Wipro, Sun Pharma, Tata Steel, HCL Tech, JSW Steel, Infosys, M&M, ITC, Bajaj Finance and Tata Motors were the top gainers. Nestle was the only loser in the BSE benchmark.
Buying was also seen in the midcap and smallcap stocks. Nifty midcap 100 index is up 1,026 points or 1.81 percent at 57,768 and the Nifty smallcap 100 index is up 180 points or 0.97 percent at 18,854.
The stock market started on a positive note on Friday. After the first trading hour, Sensex was up by 300 points and Nifty was up by around 100 points.
Shrey Jain Founder and CEO, SAS Online said, “The Indian stock market made a strong comeback. This upward surge was fuelled by impressive Q1 results. All sectoral indices attracted significant buying interest, with the Auto and IT indices hitting record highs. The midcap index also recorded a notable 2 percent increase.”
“Looking ahead, we anticipate the market to maintain its upward momentum, with earnings-driven, stock-specific movements influencing the intraday action. Overall, a “buy on dips” strategy is advisable in the current market scenario,” he added.
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