Mumbai : A day after recording one of its steepest falls by 350 points, a benchmark index of Indian equities markets on Friday ended trade 109.19 points or 0.42% up at 26,108.53 points as bank, capital goods and consumer durables stocks gained.
Healthy buying was also observed in automobile, healthcare and oil and gas sectors. However, brisk selling was sustained in information technology (IT) sectors.
The S&P bank index gained 437.47 points, capital goods index went up by 260.36 points, consumer durables index moved up by 164.98 points, auto index rose by 117.82 points, healthcare index was higher by 88.09 points.
“Markets are awaiting state elections outcome on Sunday which could make a difference to stocks,” said Rajshekar Gowda, Senior Analyst, HBJ Capital.
Participants also drew some comfort from RBI Governor’s statement that India is seeing a pick-up in economic growth although more could be done to support that on a sustainable basis, according to Jayant Manglik, President-retail distribution, Religare Securities.
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TCS, HCL Tech slumps 9% post Q2 results
Shares of IT bellwether TCS tumbled over 9%, eroding Rs 45,824 crore from its market valuation, after its September quarter numbers failed to meet market expectations. The scrip of the country’s largest software exporter ended 8.73 per cent lower at Rs 2,444.90 on the BSE. In intra-day, it tumbled 9.17 per cent to Rs 2,433.10. Shares of HCL Technologies also plunged 9%, wiping-out Rs 1,05,587.11 crore from its market cap. The company reported 32.3% rise in consolidated net profit for the first quarter but it was below market expectations. HCL Tech’s shares dipped 9.09 per cent to settle at Rs 1,505.55 on the BSE. The BSE IT index ended 4 per cent lower at 10,130.95.