Gains drive market to end high; Auto Index led gains
The stock market ended higher on Friday, driven by gains. The domestic market witnessed low volatility in the absence of fresh triggers and traded on a positive note throughout the session.
At close, the Sensex was down 105.79 points or 0.13 per cent at 80,004.06, and the Nifty was down 27.40 points or 0.11 per cent at 24,194.50.
Amid the mixed global cues, market opened higher with Nifty above 24,300. However, it erased all the gains in the first hour and traded in red zone for most part of the day.
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On Nifty, the top gainers were Shriram Finance (3.34 per cent), Britannia Industries (2.24 per cent), Bharat Electronics (1.90 per cent), Asian Paints (1.84 per cent), and Infosys (1.82 per cent).
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While on the losing side were Adani Enterprises (4.74 per cent), Adani Ports & Special Economic Zone (3.25 per cent), Bajaj Auto (3.01 per cent), Ultratech Cement (2.94 per cent), and Sun Pharmaceutical Industries (2.07 per cent).
On BSE, over 210 stocks touched their 52-week high. These included ADF Foods, CarTrade Technologies, Cigniti Technologies, Coforge, Dynamic Cables, Federal Bank, Genesys Internationsl, HDFC Bank, Kaynes Technologies, Laurus Labs, Marksans Pharma, Mastek, NIIT, Orchid Pharma, Persistent Systems, Piramal Enterprises, Pix Transmission, Praj Industries, Siyaram Silk, Sterling Tools, Tilaknagar Industries, Triveni Turbine, Wipro, among others. BSE Midcap index ended flat, while Smallcap index added 0.6 per cent.
Among the sectors, Nifty IT index ended the session 1.07 per cent higher. Nifty FMCG index also closed with a 1 per cent gain.Auto stocks, including Bajaj Auto, Mahindra & Mahindra, Tata Motors, Eicher Motors, Maruti Suzuki India, and Hero MotoCorp, also saw declines of up to 3 per cent.
PSU stocks such as Coal India, ONGC, Power Grid, and BPCL experienced selling pressure, closing Tuesday’s trade with losses ranging between 1 per cent and 1.5 per cent. Among the individual performances, shares of Vodafone Idea surged 9 per cent after the Union Cabinet approved the waiver of bank guarantees for telecom operators.
Hitachi Energy India shares zoomed 5 per cent after a consortium between the comoany and BHEL bagged a contract from the Power Grid Corporation of India. Further, the shares of food delivery major Swiggy surged 9 per cent after UBS initiated coverage on the counter with a ‘buy’ recommendation.
Markets across Asia ended today’s session on a flat note.
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