Indian stock market closed in the green mark with great momentum, Sensex jumped 759 points
Mumbai: Indian stock market closed in the green on Friday, the last trading day of the week. Both equity benchmark indices Sensex and Nifty witnessed a great rally. At the end of trading, the Sensex closed at 79,802.79 after gaining 759.05 points or 0.96 percent. At the same time, Nifty closed at 24,131.10 after gaining 216.95 points or 0.91 percent.
The domestic stock market witnessed a rise due to better investor sentiment and stock-specific activities. Pharma stocks led this rise in the trading session.
Nifty Bank closed at 52,055.60 with a gain of 148.75 points or 0.29 percent. Nifty Midcap 100 index closed at 56,392.65 with a gain of 91.90 points or 0.16 percent. The Nifty Smallcap 100 index closed at 18,650.95, up 139.40 points or 0.75 per cent.
According to market experts, “The large-cap-driven rally continued in the domestic market. Some sectors performed well, taking advantage of the festive season. Pharma and healthcare sectors witnessed renewed growth due to strong earnings and softening of valuations after recent reforms.”
They further said that India’s projected 6.5 per cent decline in second quarter GDP has already been seen in the second quarter corporate earnings, which the market has underestimated. Meanwhile, global sentiment remained subdued due to the rise in the value of the Japanese Yen.
Bharti Airtel, Sun Pharma, M&M, UltraTech Cement, Adani Ports, L&T, JSW Steel, Hindustan Unilever Limited and Titan were the top gainers in the Sensex pack. Power Grid, Nestle India, SBI and Infosys were the top losers.
Among the Nifty sectoral indices, buying was seen in pharma, healthcare, commodities, infra, media, energy and auto. Whereas, selling was seen in PSU bank and realty sectors. On the Bombay Stock Exchange (BSE), 2,334 stocks closed in the green mark and 1,608 in the red mark. Whereas, there was no change in 127 stocks.
