Closing Bell: Nifty managed to hold 17K, IT stocks gain
Closing Bell: Nifty managed to hold 17K, Sensex down 190 pts, IT stocks gain
Indian stock market indexes opened higher on Friday amid positive cues from the global markets. The indication from the SGX Nifty was also strong ahead of market opening. The Nifty opened at 17149.50 levels, up by 76.9 points while Sensex made a positive opening of 251.83 points at 57567.11 levels.
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The key benchmark indices turned negative after a few minutes of trading and later traded below their neutral lines. The markets fell on the back of selling in Nifty PSU Bank, Realty, and Pharma sectors while IT. FMCG, and Media sectors tried to lift the market indices. The broader markets also closed in the red today.
The market sentiments were subdued after the report that the Indian hospitality industry, battered by the pandemic is on alter mode but not panicking yet in the face of the Omicron variant threatening to derail prospects of the winter holiday session business.
Besides Auto dealers body FADA said passenger vehicle supplies may get affected further if Chip-making countries go under lockdown due to the spread of the Omicron variant of Covid. The industry body, however, noted that it expects the semiconductor shortage situation to normalize by the second half of next year.
On the global front, Asian markets closed mixed on Friday. The nationwide consumer prices in Japan were up 0.6 percent in November. European shares are trading almost flat today due to Christmas eve and after a rally in the previous session.
Sensex and Nifty at the Close Today
At the close, Nifty fell by 68.85 points or 0.40 percent and closed at 17003.75 levels while Sensex was down by 190.97 points or 0.33 percent and finished at 57124.31levels. The Bank Nifty index also declined today, it was down by 334.10 points or 0.95 percent on spot levels and ended at 34857.05 levels.
The broader markets also closed lower today, following their larger peers. The Nifty midcap index was down by 314.45 points or 1.05 percent and closed at 29612.85 levels. The Nifty smallcap index declined by 56.50 points or percent and finished at 10849.40 levels.
Nifty Top Gainers and Losers Today
The top gainers in the Nifty 50 index were HCL TECH, TECHM, SBILife, Asian Paints, and Wipro. Whereas the top losers were Grasim, NTPC, Eicher Motors, M&M, and Axis Bank.
The top gainers in the Nifty midcap index were Coforge Ltd, Ajanta Pharma, and Balkrishna Industries and the losers were L&T Finance, Dhani Services, Syngene Int.
The top gainers in the Nifty smallcap index were Vakrangee, Firstsource Sol, Sonata and the losers were Delta Corp, Bajaj Electric, and Future Retail.
The most active stocks in the Nifty index in terms of value were HCL Tech, Reliance, and TCS. The most active stocks in terms of volume were ITC, HCL Tech, and Tata Motors.
On a sectoral front, barring IT & Software all other sectors were closed in the red today. The sectors that dragged the markets were PSU Bank, Realty, Pharma, Auto, and Oil & Gas
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Editorial desk
