Benchmark indices Sensex and Nifty ended the week on a strong note amid broad-based buying in heavyweight banking, financial, and IT stocks. The 30-share BSE Sensex closed 964.58 points higher at 78,151.45. During the day, the benchmark hit a high of 78,282.55 and a low of 77,308, gyrating 974.55 points. The 50-share NSE Nifty was up by 261.55 points or 1.09 per cent and ended the session at 24,334.30. However, the broader market ended the session in the red. While the BSE MidCap Select Index dropped 13.78 points or 0.07 per cent, the BSE SmallCap Select Index fell 28.04 points or 0.32 per cent.
Among sectoral indices, Nifty IT, Nifty Bank and Nifty Realty witnessed substantial buying.
“There is a shift in market momentum, with strong traction moving toward large-cap stocks, led by the IT and banking sectors. This is supported by optimism around business updates and Q1 earnings expectations. The trend appears to be driven largely by domestic institutional investors rotating out of expensive mid- and small-cap stocks and into more attractively valued large caps that offer a better risk-reward profile,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, Tech Mahindra, Kotak Bank, TCS, Reliance, and Hindustan Unilever were the major gainers, with TechM gaining 3.91 per cent today. On the flip side, Sun Pharma, Trent, Bharti Airtel, UltraTech Cement, and Indigo were among the laggards. The shares of Sun Pharma fell 0.87 per cent today.
Today, shares of 24 out of 30 Sensex companies closed in the green, while the remaining 6 closed in the red. On the other hand, shares of 37 out of 50 Nifty 50 companies also closed in the green, with gains, while the 23 others closed in the red.
Rupee gains 14 paise
Meanwhile, the rupee traded largely flat near 96.26, gaining around 4 paise, as both the Dollar Index and crude oil prices remained range-bound. In the interbank foreign exchange market, the rupee opened at 96.35 against the greenback and traded in a narrow range of 96.27-96.41. Eventually, it settled at 96.28 (provisional), up 14 paise from its previous close.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
