Mumbai: The benchmark indices BSE Sensex and NSE Nifty bounced back on Friday after three days of fall after investors pumped in money to bank stocks and firm global market trends. Bouncing back from its early downfall, the Sensex appreciated 218.14 points to close at 81,224.75. Intraday, it surged 384.54 points to 81,391.15. The Nifty ended 104.20 points higher at 24,854.05. Notably, domestic institutional investors engaged in buying which also supported market recovery.
30 Sensex gainers: Axis Bank was the top performer by gaining nearly 6 per cent after the bank declared that its consolidated net profit for the Q2 of 2024-25 increased by 19.29 per cent to Rs 7,401.26 crore. Tata Steel, NTPC, JSW Steel, State Bank of India, Adani Ports, ICICI Bank, and Tata Motors. However, Infosys dropped more than 4 per cent after its second quarter earnings failed to cheer investors.
After declining in early trade BSE Sensex bounced back and traded in positive on Friday. The Sensex was up 60 points at 81,066.87 at 12:10 pm,. while NSE Nifty appreciated 46 points to 24,796.10.
The BSE Sensex tanked 570.45 points to 80,436.16 in early trade on October 18, 2024 (Friday). The NSE Nifty slumped 178.3 points to 24,571.55. The equity benchmark indices declined in early trade as foreign fund outflows continues and selling was reported in Infosys shares after the IT major declared its Q2 Results of 2024-25.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 7,421.40 crore on October 17, 2024. “The high valuations in India has been the main trigger for the sustained selling by FIIs,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Hong Kong, Shanghai and Tokyo closed higher while Seoul ended lower. The US stock markets ended in positive territory on on Thursday.
Infosys Ltd declared its second quarter results of the current financial year and declared a near 5 per cent rise in its net profit. Axis Bank also declared its Q2 Results and announced that its consolidated net profit increased by 19.29 per cent to Rs 7,401.26 crore.
The BSE benchmark Sensex dropped 494.75 points to finish at 81,006.61 on October 17. Intraday, it tumbled 595.72 points to 80,905.64. The broader Nifty declined 221.45 points to 24,749.85.
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