Stock Market Today: Sensex, Nifty Ended The Week With Gains; Volatility Likely To Continue

Stock Market Today: The BSE Sensex recorded a gain of 260 points to reach 72,664.47 at the close; meanwhile, the Nifty 50 concluded the session 98 points higher at 22,055.20

Stock Market Today

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Stock Market Today: The primary equity benchmarks, the Sensex and the Nifty 50 demonstrated resilience on Friday, bouncing back from a three-day losing streak. This positive movement was driven by robust purchasing activity in shares of market leaders such as ITC, Reliance Industries, Bharti Airtel, NTPC, Hindustan Unilever, and Power Grid, buoyed by favourable global market trends.

The BSE Sensex recorded a gain of 260 points, or 0.36 per cent, to reach 72,664.47 at the close. Key contributors to this advancement included shares of ITC, Reliance Industries, and Bharti Airtel. Meanwhile, following five consecutive days of declines, the Nifty 50 concluded the session 98 points, or 0.44 per cent, higher at 22,055.20.

In the previous trading session on Thursday, the Sensex concluded the trading session, marking a significant decline of 1,062 points and settling at 72,404, while the Nifty 50 also experienced a decrease of 335 points, closing the day at 21,967.

Stock Update

On the 30-share Sensex index, significant gainers comprised NTPC, Power Grid, JSW Steel, Asian Paint and ITC. Conversely, notable losers included TCS, Infosys Wipro, HDFC Bank, and M&M, among others.

Among the Nifty 50 shares, BPCL, Power Grid, NTPC, Hero MotoCorp, and Eicher Motors were among the top gainers. Top losers include TCS, Cipla, LTIM, Kotak Mahindra Bank, and Infosys.

Sectorial Update

Oil and gas, along with FMCG stocks, spearheaded the upward momentum. In the prevailing market climate, analysts are favouring sectors such as railways, defence, PSU banks, FMCG, and automobiles.

Rupee Movement

The rupee concluded the day flat at Rs 83.50 against the US dollar, matching Thursday's closing rate of Rs 83.50.

Broader Market

While the benchmark indices remained relatively stable, the broader market displayed notable strength, as evidenced by the BSE Midcap and Smallcap indices both advancing by 0.8 per cent each. However, the Nifty IT sectoral index faced considerable pressure, emerging as one of the worst-performing sectors of the day.