Stock market today: Following a rally in the strong market, the Indian stock market ended higher for the fourth day in a row on Friday. The Nifty 50 index shot up 129 points and finished at 22,040 level, the BSE Sensex surged 376 points and closed at 72,426 mark while the Bank Nifty index ended 165 points up at 46,384 level. In the broad market, both small-cap and mid-cap indices outperformed the key benchmark indices even as the advance-decline ratio remained firm at 1.56:1.
Large activity was seen in bank, auto, pharma, PSU, and FMCG stocks. "Domestic equities gained for 4th consecutive day, recovering more than 500 points (2.3%) from a low of 21530 and reaching close to its life-high levels of 22,126. Nifty traded in positive territory throughout the session and closed with handsome gains of 130 points at 22041 levels.
The broader market continued to gain strength up ~ 0.6%. All sectors ended in green, barring Oil & Gas. Indian markets showed resilience despite volatility.
Q3 earning season has ended on a buoyant note with Nifty delivering a strong beat with a 17% YoY PAT growth vs. est. of +11%," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities said, "Though, Nifty placed near the crucial overhead resistance of 22,125 levels, still there is no indication of any significant reversal pattern building at the highs. There is a possibility of some more upside towards the new all-time high of around 22150 levels before showing any selling pressure from the new highs. Immediate support is at 21,920 levels." On the outlook of the Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at
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