The stock market gained after three consecutive days of declines. The Sensex was up by 143 points and the Nifty by 26 points. The market closed with gains after severe fluctuations.
The morning trade started with a slight gain but then moved towards a loss. But since then, the market has seen a surge. The Nifty rose 100 points from a low.
The Sensex closed at 39,757 points. 39,968 points. The day’s low is 39,334 points. Similarly, Nifty rose by 26 points to 11,725. The Nifty closed at 11,669 points after falling sharply to 11,557 points.
The majority of Nifty stocks traded higher on the day. Of the 50 stocks involved in the Nifty, 26 gained while 24 lost. IndusInd Bank, ICICI Bank, Axis Bank, HDFC and Bharti Airtel were the top five gainers on the day.
IndusInd Bank gained 6.45%. ICICI Bank, Axis Bank, HDFC and Bharti Airtel gained over 5 per cent.
Bank stocks were the biggest gainers on the day. Similarly, the Nifty Banking Index rose by 4.15 per cent. ICICI Bank’s strong performance led to the rise of other bank stocks.
Reliance Industries, Divis Lab, Acer Motors, HCL Tech and TCS were the top five losers in the Nifty. Reliance Industries fell 8.69 per cent. Second-quarter results fell short of market expectations.
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