Stock Market Today: Nifty, Sensex Post Three–Week Losing Streak; ICICI Bank, Axis Bank Top Gainers
The Nifty 50 ended 113.55 points or 0.46% higher at 24,863.40 and the Sensex ended 218.14 points or 0.27% higher at 81,224.75.
The image is for representation. (Photo source: Freepik)
KEY HIGHLIGHTS
US Futures Trade Higher
The December futures contract of Dow Jones rose 0.01% to 43,518.00, S&P 500 rose 0.1% to 5,894.25, and Nasdaq 100 traded 0.3% up at 20,432.25 as of 3:30 p.m.
Economic Data Releases And Events For Oct 18
US: Building permits — 6:00 p.m. IST
US: Housing starts — 6:00 p.m. IST
US: Federal Reserve Governor Christopher Waller will speak sabout decentralized finance at the Annual Vienna Macroeconomics Workshop, in Vienna — 9:40 p.m. IST
Rupee Ends At Record Closing Low
Rupee closed flat at 84.073 against the US dollar. It closed at 84.07 on Thursday, according to data on Bloomberg.
Nifty, Sensex Snap Three–Day Losing Streak But End Week Lower: Market Wrap
The NSE Nifty 50 and BSE Sensex snapped a three–session losing streak on Friday tracking a rise in ICICI Bank Ltd. and Axis Bank Ltd. share price. However, the benchmarks extended losses to a third week.
The Nifty 50 ended 113.55 points or 0.46% higher at 24,863.40 and the Sensex ended 218.14 points or 0.27% higher at 81,224.75.
Earlier in the day, the Nifty 50 declined 0.74% to 24,567.65, and the BSE Sensex declined 0.74% 80,409.25.
Markets reversed the three-day fall as investors resorted to value buying in banking, metals and realty stocks which had seen sharp downfall in recent sessions. Geo-political uncertainty coupled with sluggishness in the Chinese economy and persistent FII outflows from the domestic markets have led to caution, said Prashanth Tapse, a senior vice president, research, Mehta Equities Ltd.
The Sensex ended 0.36% higher at 81,300.86.
The Nifty 50 rose 0.46% higher at 24,863.40.
The Nifty Bank ended 1.65% higher at 52,136.25.
On a weekly basis, the Nifty 50 and Sensex declined for three weeks in a row. The Nifty 50 and the Sensex declined 0.44% and 0.19% lower, respectively in the week ended on Sept 18.
ICICI Bank Ltd., Axis Bank Ltd., HDFC Bank Ltd., Tata Motors Ltd., and NTPC Ltd. share prices added to the index.
Infosys Ltd., Asian Paints Ltd., ITC Ltd., Britannia Industries Ltd., and Hindustan Unilever Ltd. weighed on the index.
Top contributors to the NSE Nifty 50 index.
This week, eight sectors ended lower, and four ended higher out of 12. The NSE Nifty Auto declined the most, and the NSE Nifty Bank rose the most.
Broader indices were mixed. BSE Midcap closed 0.2% higher and BSE Smallcap fell 0.16% at close.
Seven of 20 sectoral indices on the BSE fell and 13 rose. BSE Bankex rose the most.
Market breadth was largely split between buyers and sellers. Around 1,942 stocks rose, 1,933 fell, and 108 remained unchanged on the BSE.
Market At Close
The NSE Nifty 50 and BSE Sensex reversed a three–day losing streak on Friday.
Intraday, the Nifty 50 rose 0.55% to 24,885.85, and the Sensex rose 47% to 81,139.15.
ICICI Bank Ltd. and Axis Bank Ltd. are top gainer in the index.
Infosys Ltd., and Asian Paints are top dragger in the index.
Earlier in the day, the Nifty 50 declined 0.74% to 24,567.65, and the BSE Sensex declined 0.74% 80,409.25.
The NSE Nifty Metal was the best performing sector on Friday. It ended 1.52% higher at 9,749.30.
The NSE Nifty IT fell to one–week low during the day. The index ended 1.34% down at 42,162.90.
The NSE Nifty Midcap 150 ended 0.11% higher at 21,747.30.
The NSE Nifty Smallcap 250 ended 0.06% lower at 18,233.90.
