The Indian stock market closed in the green on Friday, with sharp gains in heavyweights like Bharti Airtel, ITC, HUL, and Kotak Mahindra Bank.
At Closing, Sensex was up 843.16 points or 1.04 per cent, at 82,133.12 and Nifty was up 219.89 points or 0.89 per cent, at 24,768.30.
During the session, BSE's benchmark made an intra-day high of 82,213 after recovering from a low of 80,082.
According to the experts, "Currently, the market is anticipating a revival in consumer spending, driven by the festive season and year-end holidays, adding to the sentiments. Additionally, an expectation of an increase in the US spending is propelling the IT sector."
Midcap and smallcap stocks underperformed compared to largcaps. Nifty midcap 100 index closed at 58,991, down 30 points or 0.05 per cent. and the Nifty smallcap 100 index closed at 19,407, down 59 points or 0.30 per cent.
In the Sensex pack, Bharti Airtel, ITC, Kotak Mahindra Bank, HUL, Titan Company, UltraTech Cement, HCL Tech, Power Grid, and Nestle were top gainers. Tata Steel, IndusInd Bank, JSW Steel, and Bajaj Finserv were the top losers.
Among the sectoral indices, Auto, IT, financial service, FMCG, energy and Infra were top contributors. PSU Bank, pharma, metal, realty and media were top laggards.
Rupak De, Senior Technical Analyst, LKP Securities said, "The equity market in India witnessed a roller-coaster session on the day of the Sensex weekly expiry. On the lower end, the Nifty found support around the neckline of the inverse head-and-shoulders pattern, completing a retest before rallying towards higher levels. Today's low also coincides with the 38.2 per cent retracement level of the previous rally."
"Going forward, the trend is likely to remain strong, with the potential to reach 25,000 and higher in the short term. On the lower end, support is placed at 24,550," he added.
Share market ends lower ahead of CPI data, Sensex settles at 81,289
According to experts, "the market continued to remain range bound ahead of domestic CPI data and weakening rupee. Though inflation is anticipated to drop, investors are maintaining a close vigil on the vegetable prices, which will determine the future rate trajectory."
Indian share market opens higher ahead of CPI data
The Indian stock market opened higher on Thursday ahead of the consumer price index (CPI) data. In the early trade, selling was seen in Nifty's auto and PSU bank sectors.
Indian share market opens flat, Nifty below 24,700
At around 9:27 am, Sensex was trading at 81,748.46 after gaining 39.34 points or 0.05 per cent, while the Nifty was trading at 24,696.10 after rising 18.30 points or 0.07 per cent.
Mcap of six of top-10 most valued firms surges Rs 2.03 lakh crore, TCS biggest winner
In the trading session from December 2 to December 6, Nifty closed at 24,677 with a gain of 2.27 per cent or 546 points and Sensex closed at 81,709 with a gain of 2.39 per cent or 1,906 points.