FINAL TRADE: Indices end week on a high note; Sensex jumps 467 points; Nifty tops 18,800

Stock market today: The bulls were in the driver's seat on Friday as the market witnessed a broad-based rally on Dalal Street. The S&P BSE Sensex jumped 467 points, or 0.74 per cent to settle at 63,384.58. The broader Nifty50 index of the National Stock Exchange surpassed the crucial 18,800 mark to end the session at 18,826, up 138 points, or 0.74 per cent.

"Nifty witnessed a strong opening on the back of buoyant US markets, which was followed by consolidation during the first half of the trading session. The momentum picked up in the second half of the trading session supported by Reliance and Bank Nifty, which witnessed increased traction towards the end of the day. Nifty, as well as the RSI, has witnessed a bullish triangle pattern on the hourly charts which can keep the strength in the stock intact. A bullish crossover has been seen in MACD, which can give an additional thrust to the index going forward. Nifty traded within striking distance of lifetime high levels and managed to close comfortably above 18,800 levels, which can push the index towards 19,000 levels in the coming days," said Gaurav Bissa, VP, InCred Equities.

Broader markets 

Nifty Midcap continued to outperform and posted a record close at 35,144.3. The Nifty Smallcap 100 also closed nearly a per cent higher at Rs 10,740.5.

New kid on the block 

IKIO Lighting made a strong debut in the secondary market on Friday, June 16. The stock of the Noida-based manufacturer of LED lighting solutions, whose IPO concluded last week with a subscription of more than 66 times, began its trading journey at Rs 391 apiece on BSE, a premium of 37.2 per cent over the upper end of the IPO price range. The stock extended its gain as the day progressed and it eventually settled at Rs 403.75 on the BSE, up 118.85 per cent from the issue price.

Sectoral watch 

Nifty FMCG and Nifty Infra posted record highs. Nifty Bank also rose 495 points, or 1.14 per cent in Friday's session to 43,938. Nifty Financial Services, metals, pharma, healthcare, and oil & gas all closed in green territory. On the flip side, Nifty IT and Nifty Realty closed lower.

Buzzing stocks

Shares of FSN E-Commerce Ventures, the parent company of Nykaa, ended 5 per cent higher on the NSE after the company talked at length about emerging growth areas on its investor day. Titan shares also closed over 1 per cent higher in Friday's session.

Piramal Pharma's scrip closed nearly 3 per cent higher after global brokerage Jefferies gave a 'buy' call on the stock. Ashok Leyland stock settled over 4 per cent higher on strong management commentary.

Conversely, PVR-Inox closed over 3 per cent lower.

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