Closing Bell: Sensex up 485 pts, Nifty reclaims 25,700 led by financial, FMCG shares; Wipro tumbles after Q2 results

Domestic equity benchmarks registered sharp gains on Friday as the market exited the trading week before the Diwali weekend. Gains in financial, energy and FMCG shares drove the rise on Dalal Street, though losses in IT stocks -- like Infosys and Wipro -- limited the upside. The Sensex gained 484.5 points, or 0.6 per cent, to close at 83,952.2 while the Nifty50 added 124.6 points, or 0.5 per cent, to its previous close to settle at 25,709.9.

Top Nifty 50 gainers and losers

Among blue chips, Asian Paints, Mahindra & Mahindra, Bharti Airtel, Max Healthcare, Hindustan Unilever, ITC, Reliance and Tata Consumer Products -- closing between 1.4 per cent and 4.1 per cent higher -- were the top Nifty50 gainers.

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On the flipside, Wipro, Infosys, Eternal, Tata Steel, HCLTech, Tech Mahindra, Hindalco and Jio Financial Services -- closing between 0.9 per cent and 5.2 per cent lower -- were the worst hit among the 23 losers in the 50-blue-chip basket.

Top index movers

ICICI Bank, Bharti Airtel and HDFC Bank were among the top contributors to gains in both main gauges. Losses in Infosys and Wipro weighed on the indices, a day after the IT giants reported their financial results.

Q2 results season gains momentum

Investors tracked incoming corporate earnings from India Inc as the earnings season headed into a third week.

ICICI Bank and HDFC Bank leads Nifty Bank higher

The Nifty Bank -- whose 12 constituents include SBI, ICICI Bank and HDFC Bank -- gained half a per cent, taking its cumulative rise to 1.6 per cent in three days. Financial service stocks enjoy the highest weightage of almost 37 per cent in the Nifty50.

Among broader indices, the Nifty Midcap 100 and the Nifty Smallcap 100 declined 0.6 per cent and 0.1 per cent, respectively. Overall market breadth favoured the bears, as only seven stocks closed higher against every 10 falling stocks on BSE.

All eyes on Muhurat trading session

Dalal Street will open for normal trading on Monday and for about an hour for Muhurat trading the next day.

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