Sensex Today | Stock Market Highlights: Indian equity benchmarks ended sharply higher on Friday, with the Sensex rising 965 points to 78,151 and the Nifty gaining 262 points to close at 24,334, led by strong buying in banking, IT and Reliance Industries.
The Nifty Bank climbed 939 points, or more than 1.5%, to 58,521 ahead of earnings from banking heavyweights, while the broader market lagged as the Nifty Midcap index fell 259 points to 62,428.
Reliance Industries, ICICI Bank and HDFC Bank were the biggest contributors to the Nifty’s gains. Tech Mahindra surged 5% after reporting a strong June-quarter performance, while Jio Financial Services gained more than 3% on healthy quarterly earnings. In contrast, Wipro ended 1% lower after a weaker-than-expected quarterly performance.
Among individual stocks, Federal Bank jumped 7% after reporting 15% year-on-year loan growth, Kalyan Jewellers extended its weekly rally to 21%, and Bharat Forge rose 4% on positive read-through from GNA Axles.
Realty stocks also advanced, with DLF and Prestige Estates gaining around 3% each, while 360 One WAM added 3% following positive management commentary.
Polycab fell 4% despite positive commentary from management, KEI Industries also declined, and capital market stocks remained under pressure with BSE dropping 3%.
Market breadth remained weak, with the advance-decline ratio at 2:3, indicating declines outnumbered advancing stocks.
Watch this space for all the stock market Highlights.