Following positive cues from the global peers, Indian equity indices closed higher on Friday after a three-day losing streak, led by a rebound in financials and information technology stocks.
The 30-share BSE benchmark Sensex surged 496 points or 0.70% to settle at 71,683. The broader NSE Nifty rose 160 points or 0.75% to end at 21,622.
Meanwhile, the market capitalisation of all listed companies on BSE surged by Rs 4.05 lakh crore to Rs 373.54 lakh crore. The market breadth was skewed in the favour of the bulls. About 2,471 stocks gained, 1,334 declined, and 107 remained unchanged on the BSE.
From the Sensex pack, Bharti Airtel, NTPC, Tech Mahindra, M&M, Tata Steel, UltraTech Cement, and Titan were the top gainers, rising 2-3.2%. On the other hand, IndusInd Bank, Kotak Bank, and HDFC Bank closed 0.8-3.2% lower.
Sector-wise, Nifty auto, FMCG, metal, PSU bank, and oil & gas closed over 1% higher each. Nifty IT surged 0.9%, led by Tech Mahindra and TCS. In the broader market, Nifty Midcap100 gained 1.52%, while Smallcap100 surged 1.1%.
Among individual stocks, Indiamart Intermesh closed 6.8% higher after the company reported in-line quarterly earnings. Its revenue jumped 21% on-year to Rs 305 crore, and operating profit came in at Rs 77 crore, led by lower employee costs during the quarter.
Metro Brands closed nearly 4% lower after the footwear retail chain reported a 12.6% decline in consolidated net profit to Rs 98.8 crore for the third quarter ended December 2023.
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