Nifty put an end to its three-day losing streak, gaining 160 points (+0.8 per cent) and closing at 21,622, as global markets took a respite. All sectors finished in positive territory, with notable buying activity observed in Oil & Gas, Metals, and Financials, according to Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services.
Investors are eagerly awaiting the weekend release of results from key index heavyweights such as Reliance, HUL, ICICI Bank, and Kotak Bank. The outcome of these releases will likely influence market sentiments, Khemka added.
Vaibhav Vidwani, Research Analyst at Bonanza Portfolio, highlighted that Nifty closed on a positive note, with most sectors posting gains. Notably, Nifty Oil & Gas and Nifty Infra recorded increases of 1.66 per cent and 1.61 per cent, respectively.
The market displayed optimism fueled by robust earnings reported by companies. Notable gainers on the Nifty included Adani Ports, IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, Divis Lab, and ONGC. Conversely, NTPC, Tech Mahindra, Bharti Airtel, and SBI Life Insurance were among the losers.
The positive momentum in various sectors and encouraging company results contributed to a favorable market environment, suggesting a potentially optimistic trend in the near term.
(With Agency Inputs)
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