The benchmark equity indices ended Friday’s trading session in the positive territory. The NSE Nifty 50 jumped 397.40 points or 1.65% to settle at 25,541.15, while the BSE Sensex gained 1330.96 points or 1.68% to 80,436.85.
The broader indices ended in positive territory, with gain led by Mid-cap and Small-cap stocks. IT and Realty stocks outperformed among the other sectoral indices while PSU Banks and Pharma stocks gained.
Sectoral Index
Bank Nifty index ended higher by 789.60 points or 1.59% to settle at 50,516.90. The Nifty Midcap 100 zooms 1,108.95 points, or 1.96%, ending the day’s trading at 57,656. In the broader markets, small-cap and mid-cap stocks finished in the green.
Markets see strong recovery in last hour! Nifty near 24,800, Sensex above 80,900 Bloodbath on D-Street amid global sell-off! Nifty tests 24,000, Sensex falls 2,222 points The Hindenburg cloud hovers over market; Nifty ends below 24,350, and Adani group stocks see 2% cut Markets close flat! Nifty below 24,600, Sensex holds 80,400
Also Read
HAL set to bag another Rs 67,000 cr LCA order, stock zooms 3%, brokerages maintain ‘Buy’
Top Movers for the day
Wipro, Tech Mahindra, Grasim, Tata Motors, and Mahindra & Mahindra are the top gainers on NSE Nifty 50 whereas the top laggards include Divis Lab,SBI Life Insurance, and Dr Reddy’s Lab.
The Indian Volatility Index (India VIX) closed down by 6.68 % at 14.40.
Experts on Today’s Market Performance
“The stability of the JPY has been instrumental in driving a global market recovery. Besides that, the strong U.S. retail sales and a decline in weekly jobless claims have helped alleviate fears of a U.S. recession. Further, the market sentiment has improved due to a decrease in U.S. CPI inflation. On the backdrop of these, the Indian IT firms exhibited strong buying interest,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that the Indian CPI inflation rate has fallen below the estimate, signalling optimism. However, challenges such as a drop in WPI inflation, weak IIP, and lukewarm Q1 corporate earnings suggest that market gains may be limited, which is reflected by FIIs maintaining a net seller position.
Also Read
Ola Electric shares hit 20% upper circuit after HSBC initiates coverage with ‘Buy’
Commenting on the same Ajit Mishra – SVP, Research, Religare Broking said that Markets staged a robust recovery on Friday, gaining nearly 1.5%, driven by positive global cues. After opening with a gap-up, the Nifty initially lost all its gains in the early hours but rebounded due to strong buying interest in select heavyweight stocks. As a result, the Nifty decisively crossed the resistance at 24,400, closing near the day’s high at 24,541.15. The rally was broad-based across sectors, with IT, realty, and auto stocks leading the gains. The broader indices also showed a solid recovery, each advancing nearly 2%.
Mishra also added that With the Nifty breaking out of its consolidation phase, it appears poised to close the gap around the 24,700 level. If there is any dip, the 24,300-24,400 zone should provide support. We recommend aligning trades with a focus on stock picking. In the absence of any major domestic triggers, attention will remain on global market performance for further cues.
Bank Nifty
Commenting on the Bank Nifty today Riyank Arora Technical Analyst at Mehta equities said that The benchmark index, Bank Nifty, has touched its resistance at the 50,600 mark and witnessed some profit booking. A slight cooldown toward the 50,400 level is expected before a fresh rally towards the 51,000 zone. The current market scenario favors a ‘buy on dips’ strategy, with a recommended stop loss at 50,100. We anticipate a renewed uptrend targeting 51,000 as banking stocks stabilize at support levels.
Related Posts
Call of Duty: Black Ops 6 launched with two Zombies maps, and now Season 1 is adding the new Citadelle des Morts DLC next month. This is more than just a brand-new map for Zombies in Black Ops 6, as Citadelle des Morts represents a key development in the ongoing Zombies narrative, as it merges some of the existing Treyarch storylines that had previously been unconnected. Here’s what y…
Read moreMany are wondering how AI and generative AI might impact the future of entertainment, including film and TV. One of the biggest players in the space, Netflix, has now commented further on the matter, saying it’s hard to predict, but the company believes AI advancements could have a major role to play.
“I think that AI is going to generate a great set of creator tools, a great way for crea…
Read moreIndie rhythm game Trombone Champ has become something of a viral hit since it released earlier this month, plumbing the rich comedic potential of the iconic brass instrument. While the developers currently recommend playing with a mouse and keyboard while controller support is being ironed out, one resourceful streamer has already figured out how to play with the ideal controller–an actual tro…
Read moreFX Networks has revealed that Season 11 of American Horror Story is titled AHS:NYC, and as the name suggests, the episodes will focus completely on New York City. Season 11 will begin airing with the first two episodes on FX on October 19, and then the following Wednesdays will stream on Hulu the following day.
This announcement confirms a comment John Landgraf, the ch…
Read moreFrom today, Black Ops 6 players can redeem a free bundle celebrating the 15th anniversary of the Call of Duty Endowment (C.O.D.E.), a non-profit foundation that helps veterans in the US and UK. The C.O.D.E. Anniversary bundle is being released on the 11th, which marks Veterans Day in the US and Remembrance Day in the UK.
The bundle contains a themed animated emblem, a sticker, and the “St…
Read moreWith just a few weeks left until it launches on PC, PS5, and Xbox Series X|S, one more trailer for Star Wars Jedi: Survivor is now available to watch and sets the stage for what fans can expect from the sequel. Like previous teasers, this trailer focuses on just how dark the galaxy has become in the five years since Cal Kestis rediscovered his Jedi heritage, and in the video below, you’ll see h…
Read moreThe benchmark equity indices ended Tuesday’s trading session in the negative territory. The NSE Nifty 50 dropped 208 points or 0.85% to settle at 24,139, while the BSE Sensex plunged 692.89 points or 0.87% to 78,956.03.
The broader indices ended in negative territory, with fall led by Large-cap and Mid-cap stocks. Financial Services and Banking stocks plunged over 1% among the…
Read moreThe assets under management (AUMs) of infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) are expected to grow 15-20% on year in the next financial year to Rs. 7.5-8 trillion with the roads sector expected to corner 75% of the fresh inflows in these instruments, according to a report.
“The roads sector will continue to dominate, accounting for almos…
Read moreRBZ Jewellers, a prominent player in the gold jewelry manufacturing sector, experienced a tepid debut on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Wednesday. The stock opened at ₹100 per share, aligning with its issue price, signaling a lukewarm market reception.
Leading up to the listing, RBZ Jewellers’ shares in the unlisted market held no pr…
Read moreThe Indian stock market has been consistently setting new 52-week highs in the past few days, establishing a new benchmark for investors and market enthusiasts. This surge is attributed to positive economic indicators, robust corporate earnings, and renewed investor confidence.
Major stock indices, including the Nifty 50 and Sensex, have reached all-time highs, indicating a strong b…
Read more