New Delhi, Nov 10 (UNI) The stock market started the week on a strong note, with benchmarks snapping a three-day losing streak. Nifty ended above 25,550 led by buying seen in the IT, metal, pharma names.
At close, the Sensex was up 319.07 points or 0.38 percent at 83,535.35, and the Nifty was up 82.00 points or 0.32 pc at 25,574.30.
The market opened flat but buying in IT stocks helped Nifty to test day’s high of 25,653.45, however, mid-session profit booking erased some of the intraday gains.
About 1,787 shares advanced, 2,183 shares declined, and 132 shares were unchanged.
BSE Midcap index rising 0.6 pc, while smallcap index falling 0.4 pc.
The cumulative market capitalisation of BSE-listed firms rose to Rs 468 lakh crore from Rs 466 lakh crore in the previous session.
On Nifty50, as many as 32 stocks ended higher. These included Infosys up by 2.59 pc, Bajaj Finance up by 1.88 pc, and HCL Technologies up by 1.82 pc ending as the top gainers.
While on the other hand, shares of Trent (7.42 pc), Max Healthcare Institute (3.13 pc), and Tata Consumer Products (2.23 pc) ended as the top losers in the index.
More than 180 stocks touched their 52-week high on the BSE. These included HBL Engineering, NALCO, Torrent Pharma, CCL Products, BHEL, SAIL, Usha Martin, Laurus Labs, Neuland Lab, Asian Paints, Bank of India, AU Small Finance Bank, Shriram Finance, UPL, Canara Bank, IOC, SBI Life Insurance, L&T Finance, Chennai Petroleum, Paytm among others.
The shares of IT stocks jumped in trade pushing the Nifty IT index up nearly 2 pc to emerge as the top sectoral gainer.
Infosys was the top gainer on the Nifty IT index, rising nearly 3 pc to trade at Rs 1,519.70 apiece. HCL Tech, LTI Mindtree, Wipro and Mphasis shares meanwhile gained nearly 2 pc each.
Further, Persistent Systems, Tata Consultancy Services (TCS), Coforge and Tech Mahindra shares rose over 1 pc each.
Defence stocks such as Hindustan Aeronautics, Garden Reach Shipbuilders, and Bharat Dynamics rallied over 4 pc.
Foreign institutional investors (FIIs) also appear to have begun buying Indian stocks.
According to data from depositories, this follows a net inflow of Rs 14,610 crore in October, which had come after consecutive months of outflows including Rs 23,885 crore in September, Rs 34,990 crore in August, and Rs 17,700 crore in July.
