Sensex, Nifty End Higher Led By Metal, I.T., Bank, Financial Stocks: Market Wrap
Sensex ended with 303 points, or 0.51%, gains at 60,261.18 while the NSE Nifty 50 closed 98 points, or 0.55%, higher at 17,956.60.
India's benchmark stock indices reversed earlier losses to end higher on Friday, tracking a firm global market as softer U.S. core inflation built hopes for a slower pace of rate hikes.
The headline indices clocked gains in the second week after having declined in the first week of 2023.
The S&P BSE Sensex ended with 303 points, or 0.51%, gains at 60,261.18 while the NSE Nifty 50 closed 98 points, or 0.55%, higher at 17,956.60.
IndusInd Bank Ltd., Adani Enterprises Ltd., Tata Steel Ltd., Eicher Motors Ltd., and Infosys Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Titan Co., Apollo Hospitals Enterprise Ltd., Nestle India Ltd., ITC Ltd. and Larsen & Toubro Ltd. were the top losers in the gauge.
The broader market indices too ended with gains, with the S&P BSE MidCap closing 0.09% higher and the S&P BSE SmallCap ending with 0.22% gains.
Sixteen out of the 19 sectoral indices compiled by the BSE Ltd. advanced, while BSE Healthcare, BSE Capital Goods and BSE Consumer Durables.
The market breadth was skewed in favour of the bulls. About 2,004 stocks rose, 1,484 declined, 146 remained unchanged on the BSE.
The headline indices closed the second week of 2023 with gains, after having ended the first week of 2023 with losses. Sensex was up 0.6% and Nifty was higher by 0.54% in this week.
Sectorally, Nifty IT, Metal, Auto and Media gauges gained for than 1% in the week, while the Nifty FMCG and Midcap 100 declined 1% and 0.29%, respectively.