Sensex rises 14 points in see-saw trade, Nifty below 19,700; RIL, Infosys drag
The BSE Sensex rose 14 points or 0.02% to end at 66,023, while its NSE counterpart Nifty50 closed below the 19,700 level.
From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top gainers. Kotak Bank, Asian Paints, and UltraTech Cement also closed higher.
On the other hand, Infosys, M&M, Wipro, TCS, and Sun Pharma closed in the red.
Bajaj Finance rose 4.4% following plans to raise Rs 8,000 crore. The fundraise will be discussed in detail at the company's board meeting on October 5.
Delta Corp shares closed over 18% lower after the casino operator received a massive tax notice of Rs 16,822 crore.
On the sectoral front, Nifty Bank rose 0.35%, and Nifty Financial Services surged 0.56%.
While Nifty IT declined 0.78%, and Nifty Media fell 0.73%. The more locally focussed mid-cap and small-cap companies rose 0.66% and 0.04%, respectively.
The market breadth was skewed in favour of the bears.
About 1,900 stocks declined, 1,874 gained, and 171 remained unchanged on the BSE.
Expert Take
«The day presented a mixed picture in the market, with sectors such as realty, banking, and consumer durables performing well while IT and pharma struggled. Investors were actively repositioning, shifting away from stocks tied to the global economy and focusing on the domestic economy,» said Vinod Nair, Head of Research at Geojit Financial Services.
Aditya Gaggar, Director of Progressive Shares, said, «On the daily chart, the Nifty50 has formed a Doji candlestick pattern at its 50DMA support, which indicates reversal of trend.
