FINAL TRADE: Nifty 3 points shy of 22,100, Sensex ends 191 points higher ahead of long weekend
Stock market today: The Nifty index ended 84.8 points, or 0.39 per cent, higher at 22,096.75, and the Sensex gained 190.75 points, or 0.26 per cent, to settle at 72,831.94.
Stock market today: Extending the rally for the third session, the domestic equity benchmarks Nifty50 and Sensex closed with gains on Friday, March 22, ahead of the long weekend amid buying in almost all the sectors barring technology. IT stocks remained under pressure due to sector bellwether Accenture's revenue warning.
The Nifty index ended 84.8 points, or 0.39 per cent, higher at 22,096.75, and the Sensex gained 190.75 points, or 0.26 per cent, to settle at 72,831.94. Nifty Bank closed at 46,863.75, up 178.85 points, or 0.38 per cent.
"The domestic market swiftly rebounded from an initial downturn and maintained a positive trajectory throughout the day, buoyed by favourable global cues driven by dovish comments from the BoE and buying activity at lower levels in the wake of a recent sell-off," Vinod Nair, Head of Research, Geojit Financial Services, said.
Hero MotoCorp, Maruti Suzuki, Sun Pharma, UPL, and Apollo Hospitals were among the top gainers in the Nifty basket, with gains of 4–3 per cent. On the other hand, LTIMindtree, Infosys, Wipro, and HCL Tech were among the top losers, down nearly 3-2 per cent.
The broader indices, Nifty Smallcap100 and Nifty Midcap100, outperformed the headline gauges to settle 0.64 per cent and 0.59 per cent higher, respectively.
Meanwhile, Nifty IT fell 2.33 per cent, or 838.4 points, to close at 35,188.4 points.
"Additionally, the retreat of crude oil prices from recent highs contributed to the positive sentiment. While most sectors experienced gains, IT remained in the red due to subdued guidance from Accenture, a major global IT player," Nair added.
Global Market
European shares were largely flat on Friday but maintained record highs as gains in the telecommunications sector were offset by losses in technology shares, while investors awaited comments from European Central Bank policymakers later in the day.
The pan-European STOXX 600 index was up 0.1 per cent and was on track for its eighth consecutive weekly gain after notching another fresh high earlier in the day, with Britain's FTSE 100 outperforming regional peers.
For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.