Fag-end buying in pvt banks, RIL help lift Sensex 72 pts, Nifty atop 19,400

Closing Bell on November 10, 2023: Among sectors, the Nifty Media index fell 1.2 per cent, followed by the Nifty Auto index (down 0.35 per cent)

Stock market highlights: Weak global sentiment kept markets in the negative zone for better part of the day on Friday, but fag-end buying in HDFC Bank, NTPC, Axis Bank, ITC, Bajaj Finance, Reliance Industries, and L&T helped benchmark indices settle higher.

The S&P BSE Sensex closed at 64,905 levels, up 72 points or 0.11 per cent, after hitting an intraday low of 64,581. The Nifty50, on the other hand, ended at 19,425, higher by 30 points or 0.15 per cent, after hitting a low of 19,329.

ONGC, NTPC, Tech M, Tata Consumer Products, Ultratech Cement, HDFC Life, Bajaj twins, Axis Bank, Britannia, JSW Steel, Power Grid, HDFC Bank, and Grasim were among the top gainers on the Nifty, gaining in the range of 0.4 5 per cent to 2 per cent. 

Hero MotoCorp, M&M, Titan, HCL Tech, Dr Reddy's Labs, UPL, Hindalco, Wipro, Infosys, Adani Enterprises, and IndusInd Bank, on the other hand, were the top laggards.

In the broader markets, the BSE MidCap index reversed losses to end 0.33 per cent higher. The BSE SmallCap index, meanwhile, closed 0.38 per cent up.

Among sectors, the Nifty Media index fell 1.2 per cent, followed by the Nifty Auto index (down 0.35 per cent). On the upside, the Nifty Metal index gained 0.71 per cent. 

3:58 PM

Comment :: 'Markets awaiting fresh triggers'

We are seeing rotational buying across heavyweights, which is helping the index to hold strong amid consolidation. Markets are now awaiting fresh triggers and it could probably be from the global markets. Meanwhile, traders should stay focused on stock selection and maintain a positive bias until the Nifty breaks 19,200. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

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