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Closing Bell: Market ends in green for 3rd session in row; Sensex up over 700 points, Nifty above 17150-level – metals, financials lead
At the market close, the BSE Sensex was up 712.46 points or 1.25 per cent to 57,570.25, while Nifty was up 228.65 points or 1.35 per cent to 17,158.25.
The Indian markets closed on a higher note for the third straight session on Friday, as the BSE Sensex jumped over 700 points, while the Nifty at around a three-month high level, settled above the 17150-mark. The surge in the market metals, followed by Auto and IT stocks during today’s session.
At the market close, the BSE Sensex was up 712.46 points or 1.25 per cent to 57,570.25, while the Nifty was up 228.65 points or 1.35 per cent to 17,158.25. Following the benchmarks suit, broader markets like Nifty mid and smallcap each gained by 1.42 and 1.7 per cent at the market close on Friday.
As many as 43 stocks advanced and 7 declined on the Nifty index at the close. SBI Life maintained the top position on Nifty50, up over 8.5 per cent amid heavy buying post strong Q1 earnings, followed by Tata Steel surging for the second straight session, gaining over 7 per cent at the close.
Hindalco, Sun Pharma, HDFC Life, and Coal India were among other top gainers on the Nifty index as the first surged between 5-6 per cent and the other two up around 4-5 per cent at the close. As many as other index heavyweights, which include Reliance Industries were up between 2-3 per cent at close.
Favorable global cues triggered a gap start however some profit taking at the higher levels capped the upside, Ajit Mishra, VP - Research, Religare Broking Ltd said
“With major events behind us, the focus would be on earnings and upcoming high-frequency data like auto sales, PMI numbers and GST collection figures for cues. We reiterate our positive view and suggest continuing with the “buy on dips” approach,” the market analyst said.
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