Weekend Markets: Nifty Ends Above 14,600, IT Stocks gain

Markets witnessed a see-saw trade on Friday as key benchmark indices failed to breach crucial resistance zones at the higher levels. At closing, BSE Sensex was up 28.35 points, at 48,832.03, while the Nifty was up 36.40 points, or 0.25 percent, at 14,617.90

On Friday, Indian markets were volatile as investors worried about an increase in covid cases in the country and WPI inflation reaching an eight-year high. However, with the Covid-19 situation in the country getting grimmer day by day, market participants have stayed on the sidelines..

Wipro, which jumped 10 percent in the intra-day trade and hit a record high of Rs 474 on the NSE, ended as the top gainer (up 9 percent) on the Nifty after clocking its best performance in the March quarter in a decade

 Hindalco, Asian Paints, Cipla, BPCL, HCL Tech, and UltraTech Cement were the other best-performing stocks on the Nifty, up in the range of 2 percent to 4 percent. On the downside, Tata Steel, L&T, ICICI Bank, SBI, Bajaj Finance, and JSW Steel slipped up to 2 percent to end as top drags on the index. 

Sectorally, the Nifty Pharma index ended 2 percent higher while the Nifty Auto, IT, Metal, and FMCG gained between 0.6 percent and 1.2 percent. On the downside, the Nifty Bank, PSU Bank, and Realty indices slipped up to 0.6 percent.

 

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