The Indian benchmark indices close the day over 2.25% higher as a strong buying trend was noticed across sectors. Nifty and Sensex managed to reclaim 11,000 and 37,000, respectively. The S&P BSE Sensex finally managed to break its losing streak after six days. IT stocks stole the show as they outperformed.
The S&P BSE Sensex ended the day at 37,388.66 points. It advanced by 2.28% or 835.06 points. The gains in the index were led Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, and Larsen & Toubro as their share price increased by 6.85%, 5.01%, 4.98%, 4.97%, and 4.58% respectively.
TCS, Infosys, and Tech Mahindra saw their share price surge by 3.89%, 3.66%, and 2.82% respectively. All the thirty stocks that constitute the Sensex index managed to close the day in the green. The market capitalisation of the companies whose shares are traded on the Bombay Stock Exchange (BSE) touched Rs 152.29 lakh crore.
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Asian Paints. Kotak Bank, PowerGrid, Sun Pharma, Hind Unilever gained the least among the Sensex stocks as their share price moved ahead by 0.27%, 0.28%, 0.81%, 0.83%, and 0.85% respectively. India VIX, the volatility gauge, lost as much as 10.06% or 2.84% to settle at 20.68 points amidst the market rally.
The NSE Nifty 50 closed Friday at 11,050.25 levels. It added 244.70 points or 2.26% over the day before it folded. Among the fifty stocks that form the Nifty index, only three of them closed in the red, while the remaining forty-seven closed in the positive terrain. The share price of UPL, BPCL, and SBI Life lost 2.95%, 3.25%, and 8.95% respectively.
All the sectoral indices on the National Stock Exchange (NSE) closed in the favourable terrain, with NSE Nifty IT gaining the most (3.46%), followed by the NSE Nifty Media (3.43%).
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
