Nifty, Sensex Close Higher As L&T, TCS, Infosys Lead: Market Wrap
The S&P BSE Sensex closed 179 points or 0.25% higher at 72,026.15, while the NSE Nifty 50 gained 52 points or 0.24% to end at 21,710.80.
The benchmark indices closed higher for the second consecutive day on Friday, led by gains in Larsen & Toubro Ltd., Tata Consultancy Services Ltd. and Infosys Ltd.
The S&P BSE Sensex closed 179 points or 0.25%, higher at 72,026.15, while the NSE Nifty 50 gained 52 points or 0.24%, to end at 21,710.80.
The Sensex hit an intraday high of 72,156.48 and the Nifty touched 21,749.60.
"Nifty began the day with an upward gap but ended without surpassing the previous day's high. However, the futures chart displays a distinct picture, with the close visibly higher than the previous day's high," Sudeep Shah, deputy vice president and head of technical and derivative research desk, SBI Securities, said. "Bank Nifty, on the other hand, formed a hammer in a previous trading session, the confirmation of which was seen in yesterday's trading session. Looking at the broader market, the Nifty 500 hit a fresh high yesterday."
"All in all, it was a positive day for the Indian stock market," Shah said.
L&T, TCS, Infosys, ICICI Bank Ltd., and Axis Bank Ltd. contributed the most to the gains.
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., ITC Ltd., Nestle India Ltd., and Sun Pharmaceutical Industries Ltd. weighed on the indices.
However, on a weekly basis, both indices logged weekly declines, with the Sensex falling 0.30% and the NSE declining 0.09% this week.
Eight out of the 12 sectors on the NSE rose, with Nifty Realty emerging as the top gainer this week.
The BSE Smallcap rose 0.61% and the MidCap gained 0.19%. Fifteen out of the 20 sectors on the BSE advanced.
The market breadth was skewed in favour of the buyers as 2,227 stocks advanced, 1,607 declined and 102 remained unchanged on the BSE.
