From the 30-share pack, Asian Paints, Reliance Industries Limited, Bajaj Finance, Mahindra & Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers, jumping up to 5.56 per cent.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
The NSE Nifty ended at 3,424, up 93 points. The market breadth was positive. Out of 2,599 stocks traded, 1,447 advanced and 1,049 declined.
The Sensex opened 12 points lower at 13,838, and soon touched a low of 13,798. Fresh buying, thereafter, helped the index rebound into the positive zone and zip past the 14,000-mark.
Technology stocks rallied, with the IT index up 2.45 per cent as TCS, Infosys, Wipro and HCL Technologies spurted following favourable rupee movement.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
NTPC was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by ICICI Bank, Titan, L&T, SBI, Sun Pharma and Nestle India. On the other hand, HCL Tech, Kotak Bank, Tech Mahindra, Hero MotoCorp and Infosys were among the laggards.
The biggest losers of the session include Reliance, Infosys, TCS, ICICI Bank, HDFC twins, ITC, Maruti, L&T, HUL, Axis Bank, Wipro and IndusInd Bank, cracking up to 4 per cent.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
The Nifty gained 118 points to close at 3,199.
Losers included Bharti Airtel, SBI, Wipro, Vedanta, Maruti Suzuki, ICICI Bank, Axis Bank and Reliance Industries, falling up to 2.18 per cent.
Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Major gainers in the Sensex pack were Wipro, Kotak Bank, Infosys, Maruti, Tata Motors, L&T, IndusInd Bank, Hero MotoCorp, M&M, SBI, ONGC, HDFC Bank and HUL, rising up to 3 per cent.
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ITC, TCS and HDFC Bank emerged as the biggest gainers during the period.
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NSE Nifty is down 203 points at 3,135. Wipro, TCS and Jaiprakash Associates have crashed around 9% each to Rs 252, Rs 494 and Rs 66, respectively. Tata Motors has tumbled 8.7% to Rs 258. Hindalco, Infosys and Sterlite have plunged around 8% each to Rs 73, Rs 1,225 and Rs 269, respectively.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
The benchmark Sensex gained 4,642.84 points, or 16.%, while the broader NSE Nifty surged 1,572.85 points, or 18.20% during this period.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
The broader NSE Nifty gained 22 points to 10,480.60
The NSE Nifty ended up 19.65 points, or 0.20 per cent, at 9,788.60 after shuttling between 9,854 and 9,775.35 during the day.
The 50-share NSE Nifty too closed down 168.30 points, or 1.58 per cent, at 10,498.25 -- a level last seen on January 3 when it closed at 10,443.20.
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
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