The Indian benchmark indices closed Friday and the week on a high. The BSE Sensex has managed to close above the crucial 40,500 levels while the NSE Nifty folded the day just short of 12,000 points. The gains in the indices were led by IT, banking and infrastructures. Pharma, auto and FMCG sectors witnessed selling.
The S&P BSE Sensex closed Friday at 40,509.49 points. It advanced by 0.81% or 326.92 points over the day. Fifteen of the thirty stocks constituting the Sensex index closed the day in the green while the remaining folded in the red. The gains in the index were led by the banking stocks of ICICI Bank, Axis Bank, SBI, and HDFC Bank as their share price of 3.64%, 3.64%, 3.52%, and 3.51% respectively.
Larsen & Toubro, ONGC, Infosys, IndusInd Bank, HCL Tech, followed with their share prices expanding by 3.10%, 2.70%, 1.24%, 0.90%, and 0.76% respectively. The other stocks to advance in the index are Bajaj Finserv, HDFC, NTPC, ITC, Bharti Airtel, and Titian Company. Their share price surged by 0.73%, 0.46%, 0.42%, 0.39%, 0.15%, and 0.05% respectively.
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Sun Pharma and Asian Paints emerged as the top losers in the index. Their share price went down by 2.08% and 1.92% respectively. Major players RIL and TCS saw their share price tank by 0.23% and 0.35% respectively. The auto stocks of Bajaj Auto and Maruti Suzuki closed the day 0.60% and 0.29% lower.
The NSE Nifty 50 closed the day 0.67% or 79.60 points higher. It closed the week at 11,914.20 points. Wipro and ICICI Bank led the gains in Nifty with their share price jumping by 4.05% and 3.61% respectively. Grasim Inds and Hindalco Inds turned out to be the most significant losers with their share price being reduced by 3.28% and 2.44% respectively.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
