Markets Closed Higher, Bank, IT Stocks Witness Buying
March 15, 2019
Friday’s Closing, Benchmark indices ended higher, but pared some of its gains generated
earlier on the back of last hour selling pressure in Reliance, ITC, and HUL.
Sensex tracking global cues, have crossed the crucial 38,170 points during
first after noon hours. Nifty also surged in trade to reach 11,464-level. However, near to the closing hours, early gains
have trimmed to some extent and the Sensex closed with a gain of 269points at 38024.32
up 71%. Nifty50 of the NSE closed at
11426.86 up by 83.60 points or 74%.
the gainers on the Nifty, Kotak Mahindra Bank rose 4.65%, followed by Power
Grid Corp (+3.21%) and Hindustan Petroleum (+2.94%). On the other hand, major losers
include Hindustan Unilever, Yes Bank, Reliance and ITC.
the sectoral front, IT, PSU bank, Private bank and Bank Nifty gained the most
while selling pressured was seen in the FMCG and realty sectors.
the week, the Sensex ended 3.7% higher and the NSE Nifty50 added 3.5 percent
weekly gains. Both the benchmark indices ended the week at a new 2019
market experts forecast that the bullish momentum likely to continue and not so
much volatility is expected, even amid general assembly election. Sensex is
expected to cross the 50,000 mark in the next decade. Also, during the current year,
Foreign Institutional Investors have invested Rs30,000-crore, which is considered
a big positive for the Indian equities market.