Sensex up 629 points; Nifty above 11,400

The stock market closed higher this week. The Sensex was up 629 points and the Nifty was up 169 points on October 1. Friday, Gandhi Jayanti Day, is a holiday for the stock market.

The Sensex closed at 38,697 points. The day’s low was 38,410 points. After last week’s correction, this week’s the best performance. The Nifty rose again to 11,400 points and ended at that level. The market started well and then continued to gain. The Nifty closed at 11,417.

On September 30, the central government introduced more restrictions on lockdowns to help the market. It is a reflection of the progress in the global market, which is also seen in the Indian market.

Bank stocks led the gains on the day. The Nifty Bank Index was up 3.70 per cent. IndusInd Bank was up 12.44 per cent on the day.

Most of the 50 stocks in the Nifty were gainers. Thirty-nine stocks gained while only 11 stocks lost. IndusInd Bank, Bajaj Finance, Axis Bank, Bajaj Auto and ICICI Bank were the top gainers. Shares of Bajaj Finance, Axis Bank, Bajaj Auto, ICICI Bank, Tech Mahindra, Adani Ports, Bajaj Finserv and Kotak Mahindra Bank gained over 3 per cent.

Dr Reddy’s Lab, ONGC, ITC, NTPC and Titan were the top five losers in the Nifty.