New Delhi, October 16 (H.S.): Domestic equity markets ended the final trading session of the week on a strong note on Friday, recovering from early losses on the back of value buying and robust purchases in information technology (IT) stocks. The Sensex and Nifty both registered gains for the second consecutive session, while investors’ wealth increased by approximately Rs 82,560 crore.

The markets opened in positive territory but soon came under selling pressure, pushing both benchmark indices into the red. However, buying interest emerged within the first 20 minutes of trading, triggering a sharp recovery from the day’s lows.

Supported by sustained buying, the Sensex climbed more than 765 points from its intraday low. The Nifty also surged more than 235 points from its lowest level, closing above the psychologically significant 23,100 mark for the first time in nearly three weeks. After a volatile session, the Sensex ended 0.56 per cent higher, while the Nifty advanced 0.65 per cent.

The BSE Sensex opened marginally higher by 25.47 points, or 0.03 per cent, at 74,341.08. Selling began soon after the opening, erasing its initial gains and dragging the index into negative territory. During the early decline, the Sensex fell 302.62 points, or 0.41 per cent, to an intraday low of 74,012.99.

The weakness proved short-lived. Buying at lower levels enabled the index to recover its entire decline within the first half-hour of trading. It subsequently climbed 765.79 points from its intraday low, reaching a high of 74,778.78, up 463.17 points, or 0.62 per cent. Some selling towards the close pulled the index back from its peak, but the Sensex still finished 413.66 points, or 0.56 per cent, higher at 74,729.27.

The NSE Nifty began the session 67.75 points, or 0.29 per cent, higher at 23,065.10. It soon surrendered its opening gains as sellers took control. The index dropped 151.30 points from its opening level, touching an intraday low of 22,913.80, down 83.55 points.

Strong support from IT and heavyweight banking stocks subsequently helped the Nifty stage a recovery. It rose 236.05 points from its intraday low to reach a high of 23,149.85, gaining 152.50 points, or 0.66 per cent. The index eventually settled 148.80 points, or 0.65 per cent, higher at 23,146.15.

IT stocks remained in strong demand throughout the session, helping the Nifty IT index surge 3.92 per cent. Metal stocks also attracted broad-based buying, with the Nifty Metal index closing nearly 1 per cent higher. Banking stocks staged a notable recovery from their early losses, taking the Nifty PSU Bank index up by more than 0.67 per cent.

In contrast, FMCG and pharmaceutical stocks faced sustained profit-taking. The Nifty FMCG index declined 0.39 per cent, while the Nifty Pharma index fell 0.14 per cent. In the broader market, the recovery failed to hold, with the Nifty Midcap index ending 0.11 per cent lower. The Nifty Smallcap index also closed marginally weaker, down 0.01 per cent.

The rally added approximately Rs 82,560.57 crore to investors’ wealth. The combined market capitalisation of companies listed on the BSE rose to Rs 4,72,66,122.04 crore at the close, compared with Rs 4,71,83,561.46 crore on Thursday, the previous trading day.

Trading activity remained substantial throughout the session. A total of 4,616 stocks were actively traded on the BSE, of which 2,404 advanced, 1,962 declined and 250 closed unchanged. On the NSE, 3,239 stocks saw active trading, with 1,894 ending higher and 1,345 closing lower.

Among the 30 Sensex constituents, 18 stocks advanced and 12 declined. Of the 50 Nifty constituents, 24 closed in positive territory, while 26 ended lower.

During the session, 126 stocks touched their 52-week highs, while 127 fell to their 52-week lows. Eight stocks hit the upper circuit on strong buying, whereas 40 stocks ended at their lower circuits amid intense selling pressure.

Tech Mahindra led the gainers, rising 8.48 per cent. Tata Consultancy Services (TCS) advanced 4.89 per cent, Infosys gained 4.61 per cent, Bharti Airtel climbed 2.75 per cent, and Mahindra & Mahindra rose 2.07 per cent. These stocks emerged as the top five gainers of the session.

On the losing side, InterGlobe Aviation, the operator of IndiGo, fell 1.91 per cent amid reports concerning airfare regulation during the festive season. BSE Limited declined 1.90 per cent, Max Healthcare dropped 1.40 per cent, Tata Consumer Products lost 1.27 per cent, and Jio Financial Services slipped 1.26 per cent, placing them among the session’s five biggest losers.

---------------

Hindusthan Samachar / Jun Sarkar