Markets closed higher; Auto, IT stock bullish

The Indian share market indices Sensex and Nifty ended higher Friday led by gains in auto, IT and metal stocks. . The benchmarks started a gap up opening wherein the Sensex rose about 252 points and Nifty 50 index briefly moved above its crucial level of 11,950. However, a mild selling pressure in select banking and pharma shares led to minor correction in the benchmarks from the day's highest levels. On closing, the BSE Sensex settled 127.01 points or 0.31 percent higher at 40,685.50 whereas the NSE Nifty gained 33.90 points or 0.28 percent to close at 11,930.35.

In Broader platform, the Nifty Small-cap and Nifty Midcap indices gaining over 0.6 percent and 0.7 percent, respectively. Among sectors, Nifty Auto gained the most over 2 percent followed by Nifty IT, Media, PSU Bank and Nifty Metals while Nifty Pharma and Realty ended in the red. Major gainers in the NSE were Maruti Suzuki, Mahindra and Mahindra, Tata Steel, PowerGrid Corporation and Bajaj Auto.  On the other hand, major lowers include UltraTech Cement, HCL Technologies, Hindustan Unilever, Gail India and Hindalco.

Sectorally, Seven of Eleven sector gauges compiled by the NSE ended higher led by the Nifty Auto index's about 3 per cent gain. Information technology, metal, media and state-run banking shares also witnessed buying interest. On the other hand, realty, private bank and pharma shares are seen selling pressure. Mid-Cap and small-cap shares also seen bullish as the Nifty Midcap 100 index rose 0.6 percent and Nifty Small-cap 100 index advanced nearly 1 percent.

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