The stock indices in India went on a bull run as earnings for the fourth quarter continued to impress with major consumer and auto sectors. At the close of the markets, Sensex was up by 253 points or 0.34% to stand at 73,917 points, and the Nifty gained 62 points or 0.28% to stand at 22,466 points.
Broad market indices, however, outshone the benchmarks. The Nifty Midcap 100 Index jumped 451 points or 0.88% to 51,604 points, while the Nifty Smallcap 100 Index gained 274 points or 1.65% to 16,870 points.
The India Volatility Index, India VIX, fell 1.05% to 19.79 points. However, of the 30 Sensex stocks, 19 closed the day in the red.
Gainers at the top of the heap were Mahindra & Mahindra, UltraTech Cement, JSW Cement, Kotak Mahindra Bank, Maruti Suzuki, and NTPC. Losers included TCL, HCL Tech, Wipro, HUL, and Nestle. "Notwithstanding the mixed global cues and uncertainty over the US Fed's policies, the Indian market showed robust resilience, led by the strong performance of the broader market and positive Q4 earnings," market analysts said.
They further said that several heavyweights surprised on the upside, while midcap and small-cap segments remained favorite haunts for investors, particularly in times of market correction. "Earnings momentum was strong, particularly in the auto and consumer durables space," they added.3.5
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