Market Overview of Sujata Muguda for Business News for Profit Oct 18

Stock Market Close Highlights for Friday, October 18: Recovery Led by Bank and Financial Shares

After a weak start, Indian stock markets showed a smart recovery today, driven by a strong rally in banking and financial shares. The BSE Sensex ended its three-day losing streak, closing 218 points higher, or 0.27 percent, at 81,224.75. The Nifty50 also gained, finishing at 24,854.05, up 104.16 points, or 0.42 percent.

Axis Bank was the top gainer on the Sensex, surging 5.6 percent, followed by ICICI Bank with a 2.8 percent rise. Other major contributors to the rally included HDFC Bank, Reliance Industries, SBI, and Tata Motors. In terms of percentage gains, Axis Bank, ICICI Bank, Tata Steel, Tata Motors, NTPC, JSW Steel, SBI, Sun Pharma, Adani Ports, and Bajaj Finserv were among the top performers on the Sensex today.

Despite the gains, the benchmarks ended below the day’s high as losses in IT and FMCG stocks weighed on the markets. Infosys dropped 4.4 percent, followed by declines in Asian Paints, Nestle India, Tech Mahindra, HUL, and Titan Company. The Sensex hit an intraday high of 81,391.15, while the Nifty touched 24,886.20.

In the broader market, the BSE MidCap index added 0.21 percent, but the BSE SmallCap index slipped 0.16 percent.

Among sectoral indices, the Nifty Private Bank index advanced 1.9 percent, while the Nifty Metal and Nifty Bank indices both rose 1.57 percent. On the downside, the Nifty IT index fell by 1.47 percent, and the Nifty FMCG index declined 0.51 percent.

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Disclaimer: The stock market is subject to volatility, and past performance is not indicative of future results. The information provided in this article is for informational purposes only and should not be considered financial advice. Investors are advised to conduct their research or consult with a financial advisor before making any investment decisions.