The Indian market ended in the green today powered by a rally in banking and IT stocks. Sentiment on Indian stock exchanges turned positive with a strong rally in the Asian markets, mirroring a stellar recovery in the US indices overnight. Sensex closed 684 points higher at 57,919 and Nifty climbed 171 points to end at 17,185. Mid-cap and small-cap indices on BSE fell 31 points and rose 2.30 points, respectively. Banking and IT shares were the top sectoral gainers with their BSE indices zooming 754 points and 459 pts, respectively.
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Here’s a look at top losers and gainers in the market today.
Total Gainers
Infosys: The IT stock closed 3.82 per cent higher at Rs 1474 against the previous close of Rs 1419.75 on BSE. It hit an intraday high of Rs 1494, up 5.23 percent post the firm’s Q2 earnings. Market cap of the firm rose to Rs 6.20 lakh crore.
HDFC Bank: The banking stock closed 3.40 per cent higher at Rs 1441 against the previous close of Rs 1393.70 on BSE. It hit an intraday high of Rs 1447, up 3.82 percent on BSE. Market cap of the bank rose to Rs 8.02 lakh crore.
HDFC: The stock of mortgage lender closed 2.69 per cent higher at Rs 2,344 against the previous close of Rs 2283 on BSE. It hit an intraday high of Rs 2,358, up 3.29 percent on BSE. Market cap of the bank rose to Rs 4.26 lakh crore
HCL Tech: The IT stock closed 2.08 per cent higher at Rs 1,002 against the previous close of Rs 982.05 on BSE. It hit an intraday high of Rs1,023 , up 4.17 percent on BSE. Market cap of the firm rose to Rs 2.77 lakh crore.
Kotak Bank: The stock closed 1.90 per cent higher at Rs 1,834 against the previous close of Rs 1,800 on BSE. It hit an intraday high of Rs1,857, up 3.16 percent on BSE. Market cap of the firm rose to Rs 3.64 lakh crore.
Top Losers
M&M: The auto stock closed 1.40 per cent lower at Rs 1230.25 against the previous close of Rs 1247.40 on BSE. The stock hit an intraday low of Rs1273.1, falling 2.04 per cent on BSE today. Market cap of the firm fell to Rs 1.52 lakh crore.
Asian Paints: The paints stock closed 0.80 per cent lower at Rs 3185 against the previous close of Rs 3211 on BSE. The stock hit an intraday low of Rs 3,180. Market cap of the firm fell to Rs 3.05 lakh crore.
Reliance Industries: The large cap stock closed 0.54 per cent lower at Rs 2,371 against the previous close of Rs 2383.85 on BSE. The stock hit an intraday low of Rs 2,368 on BSE. Market cap of the firm fell to Rs 16.04 lakh crore.
Wipro: The IT stock ended 0.47 per cent lower at Rs 377.30 against the previous close of Rs 379.10 on BSE. The stock hit a 52 week low of Rs 376.30. Market cap of the firm fell to Rs 2.06 lakh crore.
Bharti Airtel: The telecom stock ended 0.41per cent lower at Rs 765.65 against the previous close of Rs 768.80 on BSE. The stock hit an intraday low of Rs 763.20. Market cap of the firm fell to Rs 4.25 lakh crore.
Vinod Nair, Head of Research at Geojit Financial Services said, “The domestic market showed an uptick, in-line with the surprise bounce in the US market. Initially the US market fell because the data exceeded the forecast. However, it recovered quickly, due to the oversold state of the market. The rally in the domestic market was led by large caps, with IT and banking at the forefront due to the robust start to Q2 earnings. The rally can continue in the short-term led by festival demand, Q2 results and positive trend of the global market.”
Market breadth was positive with 2,109 stocks ending higher against 1,364 stocks falling on BSE. 129 shares were unchanged.
Market cap of BSE-listed firms rose to Rs 270.28 lakh crore. Foreign institutional investors were net sellers on Thursday as they offloaded shares worth Rs 1,636.43 crore, as per exchange data.
Previous session
Market ended lower on Thursday following heavy selling in banking, finance, and capital goods stocks due to inflation and growth concerns. Sensex fell 390.58 points to end at 57,235.33 and Nifty closed 109.25 points lower at 17,014.35.
Global markets
In Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended higher. Stock exchanges in Europe were trading in the positive territory in mid-session deals. Wall Street had ended significantly higher on Thursday. International oil benchmark Brent crude was trading 0.81 per cent lower at $93.80 per barrel.
