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Dhanteras was an auspicious day for the Indian stock market. The market showed enthusiasm on the day of fin nifty expiry. After the initial decline, the market saw a great recovery. After a day's work on Tuesday, Nifty and Sensex closed with gains. There was a great rise in banking stocks. Buying was seen in midcap and smallcap stocks. If we look at the sectoral front, buying was seen in PSE and realty stocks. Metal and energy indices also managed to close on a rise. The most enthusiasm was seen in banking stocks.
Nifty PSU Bank closed with a gain of more than 3% for the second consecutive day. SBI closed with a gain of more than 5%. Metal stocks showed recovery from the day's low levels after the possible announcement of a relief package in China. Auto stocks were under pressure today. Tata Motors saw the biggest decline.
At what level did the market close today?
After a full day's work on Tuesday, the Sensex closed at 80,369 with a gain of 364 points. Nifty closed at 24,467 with a gain of 128 points on this day. Nifty Bank closed at 52,321 with a gain of 1,061 points. Nifty Midcap index closed at 56,251 today with a jump of 514 points.
Which stocks saw action today
After weak results in the second quarter, the country's largest auto company Maruti Suzuki was in the list of Nifty's weakest stocks. However, after the management's commentary, the stock closed with improvement from the day's low levels. After the results, Canara Bank closed with a gain of 3%. The asset quality of the bank saw improvement on a quarterly basis. After strong results, 3 stocks of Adani Group - Adani Enterprises, Adani Ports and Adani Wilmar closed with gains.
Bharti Airtel closed in the red after the results. This stock also closed after a slight improvement from the day's lows. As expected, pharma stock Cipla closed in the red after the results. Pressure was also seen in the stocks of other pharma companies today. HUDCO, Ami Organics and Deepak Fertilizers also closed strongly after the second quarter results. Ola closed with improvement from the low levels after announcing additional discounts.
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