Stock Market: Stock market is bustling on Dhanteras
Mumbai: Indian stock market closed in the green for the second consecutive day. At the end of trading, buying was seen in PSU banks, metals, media and financial services sectors. BSE’s Sensex closed at 80,369.03 after gaining 363.99 points or 0.45 percent. At the same time, NSE’s Nifty closed at 24,466.85 after gaining 127.70 points or 0.52 percent.
The market was led by financial stocks. Nifty Bank closed at 52,320.70 after gaining 1,061.40 points or 2.07 percent. Nifty Midcap 100 index closed in the green at 56,251.30 after gaining 514.70 points or 0.92 percent. The Nifty Smallcap 100 index closed at 18,198.95 after gaining 136.65 points or 0.76 per cent. The market trend remained positive.
On the Bombay Stock Exchange (BSE), 2,251 stocks were trading in the green, 1,614 in the red. At the same time, 126 stocks closed without any change. SBI, ICICI Bank, NTPC, Bajaj Finserv, Adani Ports, Bajaj Finance, Axis Bank, L&T and PowerGrid were the top gainers in the Sensex pack. At the same time, Maruti, Tata Motors, Sun Pharma, IndusInd Bank, M&M and Bharti Airtel were the top losers. SBI, BEL, Eicher Motors, HDFC Life, SBI Life and ICICI Bank were the top gainers in the Nifty pack. At the same time, Maruti, Tata Motors and Hero MotoCorp were the top losers.
According to Vikram Kasat, Chief Advisor, PL Capital (Prabhudas Lilladher), “Private and PSU banks as well as other financial services stocks led the rally, with these indices gaining more than 2%. However, pharma and auto indices witnessed profit booking and closed in the red.” He further added, “FIIs have withdrawn about Rs 1.03 lakh crore from Indian equities in October alone. At the same time, strong domestic institutional investment is acting as a base for the markets, with net buying of Rs 98,491 crore. The market opened in the red in the morning. Selling was seen in auto, IT, fin services and pharma sectors in early trade. The Sensex was trading at 79,660.76 after falling 344.28 points or 0.43 percent. At the same time, the Nifty was trading at 24,257.70 after falling 81.45 points or 0.03 percent.”
