The Nifty index closed at 24,302 today, approximately 100 points below its intraday high, signaling a somewhat quiet trading session. The Bank Nifty index remained almost unchanged throughout the day. However, the small cap index outperformed the Nifty, gaining half a percent, while the midcap index saw a stronger performance with a 0.6% gain.
Sectoral Performance:
- Top Sectoral Gainer: The Pharmaceutical sector led the gains with the Nifty Pharma index rising by 1.5%, continuing to attract buying interest.
- IT Sector: The Nifty IT index ended with a gain of over 1%, marking a 4.3% increase over the first four trading days of the week.
- CPSC: The Nifty CPSC index also saw a gain of over 1%, driven particularly by defense stocks.
- Banks: Banks were the only sector in the red, with minor declines.
Top Gainers:
- Tata Motors (T Motors): Showed strong performance among the top gainers.
- IT Names: HCL Tech, TCS, and Infosys all saw significant buying interest.
- ICICI Bank: Despite the overall flat performance of the Nifty banking index, ICICI Bank saw solid buying and rose close to 2.5%.
- PSUs: ONGC and Coal India also performed well.
Notable Stock Movements:
- NBCC: Rose by around 10%.
- Greaves Cotton: Increased by close to 8%.
- HUDCO: Continued its strong performance, up close to 15% for the week.
Notable Losers:
- ITD Cementation: Experienced a significant decline, ending with a cut of more than 10%, although it recovered about 4% from the day's low in the final hour of trade.
- Bandhan Bank: Reacted negatively to its numbers, falling by 2% on large volumes.
Overall, despite a quiet session for the Nifty and Bank Nifty, specific sectors and stocks showed robust performance, particularly in Pharma and IT. Stay tuned for more insights in the upcoming 'Markets Forward' segment.
