MARKET CLOSING UPDATES: Taking cues from the global peers, the major benchmark indices rose on weekended Friday with BSE benchmark index rising to a high of 58,435 propelled by robust advances in IT major Infosys and the HDFC Finance, HDFC Bank.
The Sensex eventually closed at 57,920, 685 points higher. The BSE index was able to reduce its weekly loss to 271 points as a result of the Friday surge. In early trades, the NSE Nifty 50 index surged beyond the 17,300-level before settling at 17,186, up 171 points.
In response to a strong Q2 performance and a share buyback of Rs 9,300 crore, Infosys rose its value by more than 5 percent, reaching a high of Rs 1,494. Analysts anticipate that the stock will continue to rise in the upcoming trading sessions.
The major indices, however, gave back some of their gains in the second part of the trading sessions as investors continued to be cautious against the backdrop of a scenario with rising inflation rates around the world.
As the day came to conclude, the broad indices completely reversed the gain. While the BSE Smallcap index finished unchanged, the BSE Midcap index increased by 0.1 percent.
Sectorally, the BSE IT and Bankex each increased by 1.7 percent. Another notable gainer was the Capital Goods index. The Oil & Gas and Power indices, on the other hand, both fell by more than 1 percent.
On the BSE, 1,835 equities advanced compared to 1,608 shares that declined, producing a modestly positive total breadth.
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