BROADER MARKET OUTPERFORMS; FINANCIAL SERVICES IN DEMAND

The domestic equity indices traded in a narrow range with minor gains in mid-morning trade. The Nifty hovered above 21,650 mark. Financial Services shares extended gains for the second consecutive trading session.

At 11:29 IST, the barometer index, the S&P BSE Sensex, was up 75.78 points or 0.11% to 71,759.01. The Nifty 50 index added 33 points or 0.15% to 21,655.40.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.55% and the S&P BSE Small-Cap index added 0.64%.

The market breadth was positive. On the BSE, 2,159 shares rose and 1,487 shares fell. A total of 132 shares were unchanged.

Stock exchanges NSE and BSE on Friday said there will be normal trading session on Saturday, 20 January 2024 from the primary site in equity and equity derivatives segments as per regular market timings. Besides, it will be a trading holiday on Monday, 22 January 2024, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya.

Buzzing Index:

The Nifty Financial Services index rose 0.62% to 20,552.65. The index gained 1.12% in two trading sessions.

REC (up 3.47%), Power Finance Corporation (up 2.16%), HDFC Bank (up 1.21%), Indian Energy Exchange (up 1.04%) and Kotak Mahindra Bank (up 0.95%), ICICI Bank (up 0.41%), Axis Bank (up 0.31%) and Bajaj Finance (up 0.2%).

On the other hand, ICICI Lombard General Insurance Company (down 1.2%), HDFC Asset Management Company (down 1.17%) and Muthoot Finance (down 1.07%) edge lower.

Global Markets:

US stocks ended higher on Friday. The S&P 500 posted a record high close fuelled by a rally in chipmakers and other heavyweight technology stocks on optimism around artificial intelligence.

Powered by Capital Market - Live News