FINAL TRADE: Indices gain for 2nd session; Nifty reclaims 21,700, Sensex settles 179 pts higher
Stock market today: The Nifty index ended 52.2 points, or 0.24 per cent, higher at 21,710.8, while the Sensex ended the day 178.58 points, or 0.25 per cent, stronger at 72,026.15.
Stock market today: The domestic benchmark indices closed in the green on Friday (January 5) for the second session in a row, led by a jump in information technology (IT) and construction stocks. The Nifty index ended 52.2 points, or 0.24 per cent, higher at 21,710.8, while the Sensex ended the day 178.58 points or 0.25 per cent, stronger at 72,026.15.
The high-beta Nifty Bank index finished the day flat, 36.85 points, or 0.08 per cent, higher at 48,159. The Nifty IT index—whose 10 constituents include Infosys, TCS, Coforge, and LTIMindtree—gained 442.3 points, or 1.29 per cent, to end at 34,851.7.
Meanwhile, Nifty MidCap 100 and Nifty SmallCap 100 ended 0.18 and 0.65 per cent higher, respectively.
Adani Ports, Larsen & Toubro, Tata Consultancy Services, and LTIMindtree were among the top gainers in the Nifty basket, trading with gains of around 3-1 per cent. On the other hand, Britannia, Nestle India, JSW Steel, and Kotak Mahindra Bank were among the top losers, down around 2-1 per cent.
"The market ended on a flat note, tracking weak global cues, with the US 10-year yield edging higher ahead of the release of US payroll data later today, which may shape the expectation for the FED policy," said Vinod Nair, Head of Research, Geojit Financial Services.
"Investors are also staying cautious ahead of eurozone inflation data today. On the domestic front, the market is moving towards the results season, and we expect the exuberance of the broader index may be tested if the December quarter earnings do not justify the valuation," he said.
Global Market
European shares dropped on Friday in a broader market decline, poised for their first weekly loss in eight, with investors awaiting euro-zone inflation prints and US payroll data that could further shape monetary policy expectations.
The pan-European STOXX 600 lost 0.5 per cent, eyeing a 0.8 per cent weekly decline, in a rocky start to 2024 after eight consecutive weekly gains on ramped-up bets of easing monetary policy.
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