Stock markets end week on higher note, IT stock under pressure
New Delhi, Sep 25 (UNI) Indian Stock Markets today ended the week on a higher note with the breadth remaining on a positive note. At close, BSE Sensex gained 315 points, or 0.43 per cent, to 73,896 and the NSE Nifty rose 77 points, or 0.34 per cent, to 23,141 after the closing auction session.
Around 2,180 shares advanced while 1,962 declined. Among the sectors, Auto and Consumer Durables gained nearly 0.9 per cent each, while Realty rose 0.76 per cent and Private Banks advanced 0.45 per cent while IT, Media, Oil & Gas and Pharma ended lower. Midcaps slipped 0.14 per cent, Smallcaps gained 0.15 per cent and India VIX fell 4.33 per cent. The Indian rupee closed at 95.81 against the US dollar today, strengthening from Thursday's close of 95.96 per dollar. HDFC Bank ended around 1 per cent higher Trent declined 1.14 per cent, while Kotak Mahindra Bank fell 0.79 per cent and SBI Life lost 0.74 per cent. Bharti Airtel, ICICI Bank and Hindalco also ended lower. Among the IT stocks, Infosys and Tata Consultancy Services were down 2 per cent and 0.5 per cent, respectively.
PB Fintech (Policybazaar) shares extended losses by over 7 per cent today, after the stock crashed 36 per cent in the previous session. Vinod Nair, Head of Research, Geojit Investments Limited said, "Volatile crude and bond yields at elevated levels kept the market recovery capped. Concerns over inflation, foreign fund outflows and pressure on EM currencies remained intact. Selective bargain hunting after the recent pullback helped the market retain a positive bias, though gains remained confined to a narrow trading range.
The ability of benchmark indices to sustain above the psychologically important 23,000 level reflects domestic resilience and support from strong domestic liquidity." "While elevated oil prices and global yields may continue to temper risk appetite in the near term, improving valuations and resilient domestic growth prospects are encouraging selective accumulation, helping the market absorb external pressures more effectively."
UNI VK SS
