Mumbai. Despite negative signals from global markets, domestic stock markets performed brilliantly on Friday. BSE Sensex closed at 78,151.45 points with a gain of 964.58 points (1.25 percent) on the back of buying in banking, IT and financial stocks. At the same time, Nifty-50 index of National Stock Exchange (NSE) rose by 261.55 points to reach 24,334.30 points.
The market remained in the green throughout the day
Sensex opened with a gain of 184 points compared to the previous trading session and maintained its strength throughout the day. By the end of trading it registered a gain of around 965 points. Earlier, both the major indices had closed almost flat.
Impact of weakness in global markets
Most of the major stock markets in Asia and Europe were in a downward trend. Selling was also seen in IT stocks, but the domestic market maintained a positive trend due to strong investor sentiment.
Pressure in midcap and smallcap
Despite the rise in major indices, there was selling in the broader market. Nifty Midcap-50 index closed with a fall of 0.30 percent and Smallcap-100 index closed with a fall of 0.21 percent.
There was excellent shopping in these sectors
Good buying was seen in shares of banking, IT, financial services, auto, realty and oil and gas sectors. On the other hand, shares of pharma, healthcare and metals sectors remained under pressure.
These shares showed the most strength
Among Sensex companies, Tech Mahindra’s shares rose by almost four percent. Kotak Mahindra Bank and TCS were up by more than three percent. Shares of Reliance Industries strengthened by two and a half percent and Hindustan Unilever by more than two percent.
Apart from this, shares of Mahindra & Mahindra, Axis Bank, ICICI Bank, Bajaj Finance, Infosys, HDFC Bank, HCL Technologies, State Bank of India, L&T and Power Grid closed with a gain of one to two percent. Shares of Bajaj Finserv, Adani Ports, BEL, Asian Paints and ITC also remained in the green. Shares of Sun Pharma, Trent, Bharti Airtel, UltraTech Cement and Indigo declined in Friday’s trade.
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