Share Market Closing Bell: Heavy action was seen in the Indian stock market on the last trading day of the week. The market made a comeback from the day’s low due to buying. After this till the closing bell Sensex It was 71,595.49, up 0.23 percent or 167.06 points. Whereas, Nifty closed at 21,785.90 with a slight rise of 0.31 percent or 67.95 points. There was great buying in banking shares today. Pharma and FMCG sector indices closed with gains. However, pressure was seen in mid cap and small cap shares. There was pressure in PSE, metal and energy shares throughout the day. At the same time, selling was seen in IT, Infra and Auto shares.
Market cap reduced by Rs 2.29 lakh crore
Even though the domestic market has closed with a green mark. But, there was a decline in the market value of listed companies. Today the market cap of companies listed on Bombay Stock Exchange closed at Rs 386.43 lakh crore. However, it was Rs 388.72 lakh crore in the last trading session. This means that the market value fell by Rs 2.29 lakh crore in today’s trade.
What do experts say
Vinod Nair, head of research at Geojit Financial Services, said the market ended on a positive note after a volatile session and led by buying in banking stocks. Mid- and small-cap indices declined the most as sentiment on broader indices remained cautious due to their rich valuations. Markets remain cautious ahead of the release of US, UK and Indian inflation data next week, with US 10-year yields moving higher. Prashant Tapse, Senior VP (Research), Mehta Equities, said that after displaying volatility in intra-day trades, the market managed to end in positive territory after 2-session losses due to renewed optimism in banking stocks. are. However, the market momentum was limited due to selling in IT, telecom, metal and oil and gas stocks.