Sensex jumps 685pts, Nifty ends near 17,200; Infosys, HDFC, HDFC Bank shine
CLOSING BELL: A sharp pull-back in the US overnight triggered the relief rally in our markets on Friday. Benchmark indices however pared gains in the latter half of the trading day.
 "Nifty, market, sensex, stocks, investors, growth")
CLOSING BELL: The key benchmark indices bounced back with panache in opening trades this morning taking cues from the global peers. The S&P BSE benchmark index soared to a high of 58,435 in intra-day deals led by strong gains in IT major Infosys and the HDFC twins.
Infosys rallied over 5 per cent to a high of Rs 1,494 on the back of healthy Q2 performance and Rs 9,300 crore share buyback. Analysts expect the stock to log further gains in the coming trading sessions. READ MORE
The key indices, however, pared gains in the latter half of the trading sessions as the overall sentiment remained cautious in the backdrop of a high inflation scenario globally. The Sensex eventually ended 685 points higher at 57,920. Thanks to the Friday-rally, the BSE index was able to trim its weekly loss to 271 points.
The NSE Nifty 50 index rallied past the 17,300-level in early deals, but finally settled at 17,186 - up 171 points.
The broader indices erased the entire day’s gain towards the close. The BSE Midcap index was up 0.1 per cent, while the Smallcap index ended unmoved.
Sectorally, the BSE IT and Bankex surged 1.7 per cent each. The Capital Goods index was the other notable gainer. On the other hand, Oil & Gas and Power indices slipped over a per cent each.
The overall breadth was marginally positive, with 1,835 stocks advancing versus 1,608 declining shares on the BSE.
4:11 PM
Expert View: Rally can continue led by festival demand, Q2 results
"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."
- Vinod Nair, Head of Research at Geojit Financial Services
4:05 PM
IT, Financials led the market rally, while energy shares weigh
"With Inflation becoming the most widely watched economic statistic globally, yesterday's inflation print in the US saw extreme volatility there and as expected our markets opened gap up in sync with global cues. IT & Financials buoyed by earnings led the rally before profit taking in Energy stocks wiped off a bit of gains. The broader markets did see buying interest in select stocks on the back of quarterly earnings although the gains were visible only across Large Cap names."
- S Ranganathan, Head of Research at LKP securities.
4:04 PM
Adani Enterprises slips nearly 1%; co denies plans to buy cement biz of Jaiprakash
4:00 PM
HDFC Bank gains 3.4% ahead of Q2 earnings; Net seen rising 21% YoY
The private sector lender is scheduled to announce its Q2 results on Saturday. Analysts expect HDFC Bank to clock high-teen growth in its net interest income (NII) during the July-September quarter (Q2) of fiscal 2022-23 (FY23), on a year-on-year (YoY) basis, on the back of over 20 per cent growth in its loan book, and around 19 per cent in deposits. READ MORE
3:52 PM
Broader indices slip into red towards the close, India VIX dips 10%
3:50 PM
Nifty 50:: Top FIVE gainers and losers on Friday
3:48 PM
Sensex 30 Heatmap:: 20 Gainers v/s 10 Losers; Infy, HDFC twins shine
3:47 PM
NSE Nifty 50 ends 171 points higher at 17,186
3:35 PM
Closing Bell: S&P BSE Sensex ends 685 pts higher at 57,920
3:27 PM
Federal Bank zooms 6%; hits new peak on highest ever quarterly profit in Q2
Shares of Federal Bank surged 6 per cent to hit an all-time high of Rs 132.10 on the BSE in Friday’s intra-day trade on heavy volumes after the bank delivered its highest ever quarterly net profit at Rs 704 crore (up 53 per cent year-on-year) in the September quarter (Q2FY23). READ MORE
Topics : Sensex MARKET LIVE MARKET WRAP Indian markets BSE NSE Nifty Market trends stocks to watch Buzzing stocks FII flows Crude Oil Price Infosys MindTree Q2 results Bajaj Auto Shree Cement Market news
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 14 2022 | 8:01 AM IST