Last Updated: October 17, 2023, 15:58 IST
Sensex Today: Indian equities snapped their three-day dropping run as agency world cues supported the sentiment. The S&P BSE Sensex surged 261 factors, or 0.29 per cent, to settle at 66,428. It, nonetheless, ended off the day’s excessive of 66,560.
On the National Stock Exchange (NSE), the Nifty50 shut store 80 factors, or 0.40 per cent, larger at 19,812. The index hit intraday excessive of 19,776.
Among the lead gainers, BPCL, Power Grid, SBI Life, HDFC Life, Coal India, Bajaj Auto, Kotak Bank, Tech M, and ITC gained between 1 per cent and a pair of per cent. Besides, Infosys, HCL Tech, Bajaj Finance, Cipla, Airtel, HDFC Bank, Bajaj Finserv, Dr Reddy’s Labs, and LTI Mindtree edged larger within the vary of 0.5 per cent to 0.9 per cent.
Meawhile, broader indices continued to shine with the BSE MidCap and SmallCap indices gaining 0.39 per cent and 0.7 per cent, respectively.
Among sectors, all key indices closed within the inexperienced zone led by the Nifty Financial Services index (0.6 per cent).
Dr. V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated: “The market scenario is changing fast. There is a risk-on mood in the market triggered by the hope that the Israel-Hamas conflict will not spread. President Biden’s upcoming trip to Israel and Jordan and the two US aircraft carriers sent to the Eastern Mediterranean is a clear message to Iran and Hezbollah not to intervene in the war. The market hopes that the war will remain localised, and this is the reason why the market remains hopeful.”
“The HDFC Bank results, particularly the bullish guidance and commentary, are positive and the bank, which has the highest weightage in the Nifty, can support the market. Results from the other leading banking names too will be good,” he additional stated.
“Capital goods and autos continue to be on strong wicket,” Vijayakumar added.
