0

0

0

0

0

0

0

0

0

Closing Bell: Nifty50 reclaims 18,100 as market bounces back after 3 days of losses

Mini

Indian equity benchmarks made a comeback after three days of losses, with the Sensex and Nifty50 indices surging more than one percent each powered by broad-based gains.

Closing Bell: Nifty50 reclaims 18,100 as market bounces back after 3 days of losses
Indian equity benchmarks made a big comeback on Friday following three days of losses, amid gains across global markets. Gains across sectors, led by IT, financial and oil & gas shares, lifted the headline indices.
Both Sensex and Nifty50 ended 1.3 percent higher for the day, recovering all of the losses in the past three days. The Sensex index added 767 points to 60,686.7 at the close and the broader Nifty50 benchmark settled at 18,102.8, up 229.2 points from its previous close.
Tech Mahindra, Hindalco, Wipro, HDFC, Infosys, HDFC Life, Bajaj Finserv, Adani Ports, Nestle and Asian Paints -- closing around 2-4 percent higher each -- were among the top gainers in the Nifty50 pack.
On the other hand, Bajaj Auto, Tata Steel, Hero MotoCorp and Axis Bank -- down between 0.4 percent and 2.9 percent -- were the worst hit among the seven laggards in the 50-scrip benchmark.
"The market regained the momentum lost during the week as inflation worries started to fade with investors shifting their focus to good quarterly earnings, economic recovery and strong domestic macro data points," said Vinod Nair, Head of Research at Geojit Financial Services.
Broader markets also saw buying interest, with the midcap and smallcap indices rising 0.5 percent and 0.3 percent respectively.
Sheela Foam, IDFC, Welspun and Maharashtra Seamless -- rising between 5.4 percent and 13.8 percent -- were among the top gainers from the midcap and smallcap segments. Solara Active, VRL Logistics, SH Kelkar and JTEKT India -- falling between 3.3 percent and 10.6 percent lower -- were among the top losers.
Hindalco shares closed 3.3 percent higher after the Aditya Birla group metal company's quarterly net profit jumped nearly nine times to Rs 3,417 crore.
Tata Steel shares fell 0.9 percent despite the steelmaker beating Street estimates with a 7.5 times jump in net profit for the July-September quarter.
Bharat Forge shares ended one percent lower after the forging company's net profit fell short of analysts' expectations.
The Vodafone Idea stock jumped 4.7 percent after the company's quarterly net loss narrowed.
"As the result season is almost behind us, the focus will shift back to global markets for cues. At the same time, traction in primary markets will keep investors busy," said Ajit Mishra, VP-Research at Religare Broking.
next story