Sensex gains for 2nd day, rises 632 pts; Nifty holds 16,350; IT stocks lead

CLOSING BELL: Apollo Hospitals, Tech M, HDFC Life, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Wipro, Infosys, L&T, HUL, and Bajaj Finserv zoomed over 2.5 per cent on the Nifty

CLOSING BELL

Stock market highlights: Equity markets rose for a second consecutive day on Friday, propelled by across-the-board buying. The S&P BSE Sensex hit a high of 54,937 intra-day, before ending at 54,885, up 632 points or 1.17 per cent. 

The NSE Nifty, on the other hand, settled the day at 16,352, up 182 points or 1.13 per cent. The index hit a high of 16,371 earlier today. In the broader markets, the Nifty MidCap100 index and the Nifty SmallCap100 indices rose 1.4 per cent each.

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Apollo Hospitals, Tech M, HDFC Life, Hero MotoCorp, IndusInd Bank, Bajaj Finance, Wipro, Infosys, L&T, HUL, and Bajaj Finserv zoomed over 2.5 per cent on the Nifty. Dr Lal Path Labs, Whirlpool of India, IndiaMART InterMESH, Page Industries, Route Mobile, Balrampur Chini, and Sonata Software, on the other hand, surged up to 9.5 per cent in the broader market.

ALSO READ: Investors should sell the rallies; S&P 500 can fall another 10%, says Chris Wood

Sectorally, the Nifty IT index was the lead gainer, up 2.54 per cent, on the National Stock Exchange (NSE). The only loser was the Nifty Metal index, down 0.06 per cent.

4:09 PM

Technical view: Rupak De, Senior Technical Analyst at LKP Securities

Nifty remained strong as it sustained above 16200 throughout the day. Momentum oscillator, RSI is in bullish crossover and rising. Going forward, a decisive move above 16400 is likely to induce a rally towards 16700-16800. On the lower end, supports are visible at 16200/16000.

4:05 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

Joining the global rally, the investors were in a buying mood following favourable retail earnings in the US. Receding FII selling also provided comfort to the domestic market in bringing down volatility. The RBI’s upcoming policy meeting will be a key factor in the market, where they are expected to announce an additional policy rate hike of 25-35bps.

4:00 PM

CURRENCY CHECK: Rupee closes 2 paise higher against US dollar

3:54 PM

Closing bell: Over 2,000 stocks advanced whereas 1,108 declined

3:50 PM

Closing bell: Muthoot Finance, Indigo Paints among stocks that hit 52-week low

3:46 PM

Closing bell: ONGC, NTPC, Power Grid top Nifty 50 laggards

3:44 PM

Closing bell: Apollo Hospitals, Tech Mahindra, HDFC Life top Nifty 50 gainers

3:38 PM

Closing bell: Broader markets shine; India Vix slips 5%

3:36 PM

Closing bell: Barring Nifty Metal, all sectors close in negative zone

3:34 PM

Closing bell: 8 out of 30 Sensex stocks close in red

3:32 PM

Closing bell: Sensex gains over 600 points

3:31 PM

Closing bell: Bulls charge Nifty 50 above 16,350 levels

3:25 PM

Agro-chemical stocks perk up in trade; Sharda Cropchem rise over 4%

3:18 PM

Energy basket down in a firm market; GAIL, ONGC slip over 5%

3:13 PM

SJS Enterprises gains 12% on healthy business outlook

SJS said this organic growth would be on back of positive outlook of the automobile industry and the company’s strategy of enhancing its chrome plating capacity, increasing presence in exports market and developing new age products and technologies while strengthening relations with existing customers and building mega accounts. READ MORE