Stock market today: Nifty 50, Sensex rise over 1% this week as focus shifts to fundamentals; Wipro, M&M, SBI shine
BSE Midcap index rose 0.78 per cent while the Smallcap index clocked a gain of 0.68 per cent. Also Read: Nifty 50 to Sensex: Why Indian stock market has been rising for last four days — explained with 5 crucial reasons The overall market capitalisation of the firms listed on the BSE rose to nearly ₹389.5 lakh crore from nearly ₹387.3 lakh crore in the previous session, making investors richer by about ₹2.2 lakh crore in a single session. All sectoral indices, except for Nifty Oil & Gas (down 0.61 per cent) and PSU Bank (down 0.36 per cent), closed higher.
Nifty Auto jumped 2.21 per cent to close as the top sectoral gainer. Nifty Pharma (up 1.63 per cent), Realty (up 1.53 per cent) and IT (up 1.26 per cent) clocked significant gains. Nifty Bank rose 0.36 per cent.
The Nifty 50 and the Sensex closed over a per cent higher this week while the BSE Midcap index closed almost a per cent higher. The BSE Smallcap index underperformed and closed flat for this week. Stocks such as Wipro, Mahindra and Mahindra (M&M), SBI, Bajaj Auto and Apollo Hospitals Enterprises, closed among the top gainers in the Nifty 50 index this week.
On the other hand, shares of Hindalco Industries, ITC, Bharti Airtel, Hindustan Unilever and Tata Steel declined on the weekly scale. "The Indian market continued its broad-based recovery, aided by positive global cues. Further, narrowing India’s trade deficit, led by softening commodity prices and a manufacturing push by the government, attracted investors to capital goods, metals, and industrial stocks.
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