October 18, 2024
New Delhi, India
Stock Market Today
Indian stock markets snapped a three-day losing streak on Friday, with the BSE Sensex rising 218 points (0.27%) to close at 81,224.75, and the Nifty 50 climbing 104.16 points (0.42%) to end at 24,854.05. The recovery was led by banking and metal stocks, which outperformed during the session.
Key Highlights:
- Top Gainers: Axis Bank (+5.6%), ICICI Bank (+2.8%), HDFC Bank, Reliance Industries, and Tata Motors.
- Top Losers: Infosys (-4.4%), Asian Paints, Nestle India, and Hindustan Unilever.
- Sector Performance:
- Nifty Private Bank Index: +1.9%
- Nifty Metal Index: +1.57%
- Nifty IT Index: -1.47%
- Nifty FMCG Index: -0.51%
The Nifty Private Bank and Metal indices led the rally, while the IT and FMCG sectors faced losses. The BSE Midcap Index rose 0.21%, whereas the SmallCap Index slipped 0.16%.
Market Outlook: The strong performance in the banking sector, along with gains in metals, helped the benchmarks recover after a weak start. However, continued pressure on IT stocks dampened gains. The broader market remained mixed, with Midcap stocks seeing marginal gains and Smallcaps retreating slightly.
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