A lot of volatility was seen in the market during the day. IT stocks have strengthened the market in early trade. Due to this, the Sensex reached the level of 82,957.91, but at the end of the session it closed at 82,276 due to selling in large largecap stocks.
Metal and auto stocks managed the market. Nifty Metal closed 2.70 percent higher and Nifty Auto and Pharma closed 1.85-1.85 percent higher. Nifty Healthcare closed with gains of 1.59 per cent, Nifty IT by 1.57 per cent, Nifty India Manufacturing by 1.35 per cent, Nifty India Defense by 0.93 per cent and Nifty Commodities by 0.75 per cent.
On the other hand, Nifty PSU Bank closed with a weakness of 0.39 percent, Nifty Infra 0.30 percent, Nifty FMCG 0.25 percent and Nifty Realty closed with a weakness of 0.19 percent.
Along with largecaps, midcaps and smallcaps witnessed a rise. The Nifty Midcap 100 index was up 339.75 points or 0.58 per cent at 59,406.10 and the Nifty Smallcap 100 index was at 17,118.70, up 160.05 points or 0.94 per cent.
HCL Tech, Tata Steel, TCL, Indigo, Sun Pharma, M&M, Maruti Suzuki, Axis Bank, ICICI Bank, Infosys, BEL, L&T, Tech Mahindra, Titan, NTPC, Power Grid, HUL and UltraTech Cement were the gainers in the Sensex pack. SBI, Eternal, Bharti Airtel, ITC, Kotak Mahindra, HDFC Bank, Bajaj Finance and Trent were the losers.
Market experts say that buying by foreign investors has played an important role in today’s rise. Even in yesterday’s big fall, foreign institutional investors (FIIs) had sold Rs 102.53 crore. Whereas, earlier on Monday, FIIs had purchased Rs 3,483.70 crore in the cash market.
This indicates that the inclination of foreign investors is changing for the Indian market. This is increasing the positive sentiment in the market.
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