Buy on dips strategy working well in Indian stock market amid sharp rebound
The surge in the Indian stock market on Friday helped the Indian benchmark indices end the week on a positive note.
Stock Market erased some of the previous session gains to end lower. Selling was seen in the IT, metal, oil & gas and FMCG names, while buying in realty, PSU bank, media restricted further fall.
Stock Market erased some of the previous session gains to end lower. Selling was seen in the IT, metal, oil & gas and FMCG names, while buying in realty, PSU bank, media restricted further fall.
At close, the Sensex was down 384.55 points or 0.47 per cent at 81,748.57, and the Nifty was down 100.05 points or 0.40 per cent at 24,668.25.
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On Nifty, the top gainers were Dr. Reddy’s Laboratories (1.89 per cent), Indusind Bank (1.29 per cent), HDFC Life Insurance Company (0.38 per cent), Bajaj Finance (0.36 per cent), and Power Grid Corporation of India (0.34 per cent).
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The top losers were Titan Company (2.01 per cent), Adani Ports & Special Economic Zone (1.33per cent), Tata Consultancy Services (1.31 per cent), Hindalco Industries (1.30 per cent), and Bharat Petroleum Corporation (1.24 per cent).
On BSE, over 300 stocks touched their 52-week high on the BSE, including, Oberoi Realty, Kaynes Technologies, Dixon Technologies, 360 One wam, Affle India, Lloyds Metals, Paytm, Indian Hotels, Info Edge, HBL Power, KPR Mills, Page Industries, Ramco Cements, LTIMindtree, Persistent Systems, BLS Internation, CRISIL, Coforge, Swan Energy, HCL Technologies, among others.
The broader indices outperformed with BSE Midcap and smallcap indices were up 0.5 per cent each. Among the sectors, realty index was up 3 per cent, media index by 1.5 per cent and PSU Bank index gained 0.5 per cent. On the other hand, the IT, metal, oil & gas shed 0.5-1 per cent.
IT Stocks ended its five-day winning streak, dipping 0.3 per cent due to losses in TCS, Tech Mahindra, Infosys, and Coforge. Shares of real estate companies surged as investors bet on hopes of strong housing demand in 2025, driven by new launches, imminent rate cuts, and favourable demographic trends. Oberoi Realty, Prestige Estates, Macrotech Developers led gains within the sector and surged, lifting the Nifty Realty index over 3 per cent higher.
Some of the key individual performers were Angel One as its shares tanked 5 per cent amid a sharp uptick in volumes. As many as 46 lakh shares changed hands in just 2 sessions.Shares of GE Power surged 3.3 per cent after the company received an extension of a Rs 18.27 crore purchase order.
Swiggy share price hit the fresh record high after the domestic brokerage Axis Capital initiated coverage on the food delivery and quick-commerce major. The stock touched an intraday high of Rs 612.40 per share on the NSE. Benchmark indices ignored fall in WPI which is recorded at 1.89 per cent (Provisional) for the month of November.
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