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Closing Bell: Market ends higher for third straight week led by auto, IT stocks; Eicher Motors top gainer, ends over 4%

Closing Bell: Market ends higher for third straight week led by auto, IT stocks; Eicher Motors top gainer, ends over 4%

Closing Bell: Market ends higher for third straight week led by auto, IT stocks; Eicher Motors top gainer, ends over 4%
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By Mousumi Paul  Jul 3, 2020 3:42:28 PM IST (Updated)

The Indian market pared some morning gains but still ended higher on Friday, making it the third straight week to end with gains. At close, the Sensex ended 178 points or 0.50 percent higher to 36,021 while the Nifty50 index ended at 10,603, up 52 points or 0.49 percent. 

The Indian market pared some morning gains but still ended higher on Friday, making it the third straight week to end with gains.

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At close, the Sensex ended 178 points or 0.50 percent higher to 36,021 while the Nifty50 index ended at 10,603, up 52 points or 0.49 percent.
Broader markets inched slightly higher than the benchmarks, as Nifty Midcap 100 and Nifty Smallcap 100 ended 0.66 percent and 0.22 percent higher.
Nifty IT remained the best-performing index, ending 1.08 percent higher followed by Nifty Realty (1.02 percent) and Nifty Auto (0.99 percent). Meanwhile, Nifty PSU Bank remained the worst-performing index, ending close to 1 percent.
Eicher Motors, Adani Ports, Bharti Airtel, Hero MotoCorp and NTPC were the Nifty50 top gainers while JSW Steel, Tata Steel, IndusInd Bank, Zee Entertainment and HDFC Bank remained the top losers.
The share price of Reliance Industries gained over a percent on Friday after the company announced that Intel will invest Rs 1,894.50 crore in its technology arm Jio Platforms for a 0.39 percent stake. This is the twelfth high-profile investment in the firm in less than three months.
Defence stocks' shares rallied on Friday after the government approved the acquisition of missiles, ammunition, and weapon systems worth Rs 38,900 crore.
Motherson Sumi's shares plunged 9 percent in the early trade on Friday after the company announced a group restructuring under which it will demerge its domestic wiring harness (DWH) business into a new company that will eventually be listed.
Market breadth remained in favour of the advances, as 851 NSE stocks ended with gains while 958 stocks posted losses.
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