The Indian stock market also saw the impact of strength in global markets and buying by foreign investors, and both benchmark indices closed with gains for the third consecutive day. On Friday, the last day of the trading week, the BSE Sensex surged 166 points to cross 78,000, while the NSE Nifty rose 66 points.
Auto sector sees sharp rise, IT stocks see profit booking
Strong buying in the auto sector provided significant support to the stock market. Meanwhile, after five consecutive days of strong gains, the domestic IT index witnessed profit-booking for the second consecutive day, limiting the stock market’s gains.
Sensex climbs 166.49 points to close at 78,094.64, a 3-week high
The 30-share Sensex of the Bombay Stock Exchange (BSE) closed at 78,094.64, up 166.49 points, or 0.21 percent, its highest level in more than three weeks. During trading, the index rose 344.1 points, or 0.44 percent, to reach 78,272.25. Among the Sensex-linked companies, 16 stocks advanced while 14 declined.
Nifty closed at 24,383.60, up 66.45 points.
Meanwhile, the National Stock Exchange (NSE)’s 50-share sensitive index, Nifty, rose 66.45 points, or 0.27 percent, to close at 24,383.60. Among Nifty-linked companies, 29 stocks gained, while 21 declined.
Bajaj Finance gained the most at 8.11 percent.
Among Sensex companies, Bajaj Finance closed with the highest gain of 8.11%. The company’s net profit for the June quarter increased 28% to ₹6,081 crore. This increase was driven by an increase in core income and improved asset quality.
Shares of Bajaj Finserv, Mahindra & Mahindra, Adani Ports, Tata Steel, Reliance Industries, Bharat Electronics, and Titan also rose. In contrast, Tata Consultancy Services (TCS) fell the most, shedding 2.73 percent. Shares of Eternal, Infosys, ITC, and InterGlobe Aviation were also major losers.
FIIs made net purchases of shares worth Rs 3,623.51 crore
Foreign institutional investors (FIIs) made net purchases of shares worth Rs 3,623.51 crore on Thursday, according to stock market data, while international oil benchmark Brent crude rose 0.45 per cent to $89.43 per barrel.