Benchmark Indices lost ground in the morning session but recovered during the day mainly due to heavy buying of IT stocks (by the investors) ahead of their earnings due this week and next, though the gains were capped by weak Global hues.
The 30-share pack Sensex rose 134.32 points or 0.25 per cent to close at 52,904.05 points. The index closed up 400 points from its day’s low while its broader peer NSE Nifty went up 41.60 points or 0.26 per cent to 15,853.95 points.
Although there were weaker Global hues, the domestic indices recovered the morning session losses and went up during the day as they were supported by good expectations of Q1FY22 result and this resulted in heavy buying of IT stocks by the investors, said Vinod Nair, Research Head of Geojit Financial Services.
Market Highlights
— India V!X, the volatility barometer, eased further
— Wipro, Tech Mahindra topped the charts in view of heavy purchase demand in IT stocks
— Adani Ports continued to witness the fall, declining over 1 per cent.
— Zomato IPO issue subscribed 88 per cent so far on the opening day.
— Kitex garments rises 10 per cent more after shifting to Telangana.
Wipro was the top gainer among the blue chip companies as it rose 6.99 per cent. The other gainers were Tech Mahindra, Infosys, HCL Tech, L&T, Tata Steel, Shree Cement, ITC and Cipla.
Among the losers were Maruti Suzuki dropping 1.42 per cent followed by Adani Ports, HUL, Nestle India, Titan, Dr Reddy’s Labs, Reliance Industries, HDFC Life Insurance and Tata Consumers.
Broader Market indices ended higher as they outperformed their headline peers. Nifty Smallcap gained 0.45. per cont and Nifty Midcap rose 0.23 per cent. Nifty 500, the broadest index on NSE, ended up by 0.24 per cent.
The Market breadth was in favour of gainers as 1797 stocks ended in the green while 1444 names settled with cuts. About 492 stocks hit the 52-week highs mostly from smallcap space. While 18 others touched the 52-week lows mostly from microcap space. A total of 535 stocks hit the upper circuit limits and 210 lower circuit limits.
