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The market managed to close in the green on Friday after a smart recovery in banking and financial stocks. ICICI Bank, Axis Bank and HDFC Bank topped the Nifty's list of bullish stocks. Buying was seen in metal stocks after the recent economic data in China. These stocks rose by up to 2% today. On the back of outperformance in financial stocks, Nifty Bank rose by 2% and Nifty by half a percent.
At what level did the market close today?
After a full day's work on Friday, the Sensex closed at 81,225 with a gain of 218 points. Nifty closed at 24,854 with a gain of 104 points. Nifty Bank closed at 52,094 with a gain of 805 points. Nifty Midcap Index closed at 58,723 with a gain of 257 points. Which stocks showed action today After the second quarter results, profit booking was seen in Infosys today. This stock closed down by 4% today. After the results, pressure was seen in FMCG stocks today. The decline in Nestle continued today as well. Wipro closed with a gain of more than 4% after better than expected September quarter results. Axis Bank also closed on a rise with the second quarter results. This stock topped the list of fastest-growing stocks in Nifty today. After APM gas allocation, shares of city gas distribution companies saw a sell-off of up to 15% today. Manappuram Finance also closed down 15% today. RBI has taken action on the company's microfinance unit, after which this decline has been seen. Zee Entertainment closed with a gain of 5% today after the second quarter results. LTIMindtree closed down more than 6% today after Q2 results. Zomato closed down more than 5% ahead of the board meeting to raise funds on October 22. Polycab closed 8% higher from the day's low today after the management projected a better outlook. How was the market this week? The market has seen a decline for the third consecutive day on a weekly basis. Friday's recovery helped reduce the weekly decline in the market to some extent. Sensex and Nifty have slipped by 0.2% to 0.4%. ICICI Bank and HDFC Bank are included in the list of stocks with financial outperformance. Nifty Bank is up 2%. This week, Bajaj Auto, Nestle India, Trent, Maruti Suzuki, Bajaj Finance and Hero MotoCorp were at the top of the list of Nifty's weakest stocks. Whereas, Wipro, ICICI Bank, L&T, SBI Life and HDFC Life were at the top of the list of bullish stocks this week. MGL, IGL, Tata Chemical, Colgate and IEX were in the list of midcap weak stocks. HPCL, HDFC AMC, Firstsource and Torrent Power were at the top of the list of bullish midcap stocks.
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