Image Source : FILE Business stock exchange building.
Benchmark indices ended Thursday’s trading session on a positive note, driven by a strong rally in information technology (IT) stocks. The S&P BSE Sensex closed 62.87 points higher at 80,049.67, while the NSE Nifty50 gained 15.65 points, settling at 24,302.15. The Nifty IT index rose over 1%, emerging as one of the top gainers among Nifty sectoral indices, alongside Nifty Pharma.
Expert insights
Aditya Gaggar, Director of Progressive Shares, commented, “Right from the beginning, the Index was seen giving up its gains and ended the session at 24,302.15 with a minuscule gain of 15.65 points. The Pharma sector regained its momentum and advanced more than 1% to be the top performer, followed by IT.”
Market trends
“On the flip side, Media and FMCG were the laggards. The interest of market participants was more towards broader markets as Mid and Smallcaps moved over 0.45%. Over the past couple of days, it seems that the Index is finding it difficult to hold higher levels, and bearish divergence in RSI indicates weakening momentum,” Gaggar added.
Broader market indices
All other broader market indices also ended the session on a positive note, as volatility fell sharply.
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