The Indian markets have closed the week on a strong note as the benchmark indices closed Friday more than 0.50% higher. The S&P BSE Sensex gained 0.50% or 177.72 points to close the day at 36,021.42 points. Among the 30 stocks constitute the Sensex index, 10 of them tanked while the remaining 20 stocks gained.
Gains in the BSE Sensex were led by the shares of Bharti Airtel, Hero MotorCorp and Bajaj Auto as they gained 4.05%, 2.44%, and 2.28% respectively. The share price of Reliance Industries Limited (RIL) surged 1.53% on the back of Jio securing a deal of worth Rs 1,894.5 crore with Intel, a semiconductor giant.
The IndusInd Bank, Tata Steel and HDFC Bank emerged as the top losers as they plummeted 1.50%, 1.49% and 1.42% respectively. Every week, the BSE Sensex surged by 1276.07 points 3.67%. Coming to the broader markets, the BSE SmallCap index closed nearly flat as it shed 4.47 points or 0.08%. The BSE MidCap index shot up 0.56% or 73.66 points.
Also Read: Indian Benchmark Indices Close Nearly Flat, But in Red
The NSE Nifty 50 advanced 0.50% to wrap up Friday at 10,607.35 points. It gained 55.65 today. 18 of the 50 Nifty stocks ended the day in the red while 31 of them zoomed whereas one stock stayed unchanged. The steel stocks were on the downward run as JSW Steel, and Tata Steel collapsed 1.77% and 1.76% respectively.
The gains in the Nifty index were led by the shares of Eicher Motors Ltd and Adani Ports, and Special Economic Zone Ld zoomed 4.18% and 4.12% respectively. Every week, the Nifty index gained 300.8 points or 2.91%. The India VIX index, the volatility gauge dropped 2.79% or 0.74 points to close the week at 25.77 points.
Among the sectoral indices, the NSE Nifty Auto index gained 0.93% on Friday. The NSE Nifty Media and Nifty Bank indices dropped 0.2% and 0.46% respectively on Friday.
For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in
Engineer by qualification, financial writer by choice. I am always open to learning new things.
