Stock market update: M&M, Shriram Finance, Adani Ports among top gainers

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BSE Sensex closed at 76,992.77, up by 181.87 pts or 0.24 per cent, and Nifty 50 ended at 23,465.60, up by 66.70 pts or 0.29 per cent.

Sectoral indices, except IT and media, closed in the positive territory. Nifty auto, healthcare and consumer durables were up over 1 per cent.

Nifty mid-cap 100 rose 1.05 per cent to 55,225.95, and Nifty small-cap was up 0.76 per cent at 18,043.60.

Vinod Nair, Head of Research, Geojit Financial Services, stated that there is a temporary blip in the market momentum, due to a lack of fresh triggers after the hawkish commentary from the US Fed, lowering the plausibility of rate cut in the short-term.

“A near-term consolidation seems probable as domestic investors await cues from the upcoming union budget. There is a growing opinion that the government could place emphasis on welfare, giving a fillip to consumption-led stocks,” he said.

Eicher Motors, Adani Ports, Mahindra & Mahindra,Shriram Finance, and Ttitan were the top gainers on the Nifty 50 pack, while Tech Mahindra, TCS , Wipro, HCL Technologies, and L&T were top losers.

Ambuja Cements, among stocks that hit a new high on Friday, closed at ₹673.60 on the NSE, higher by 1.68 per cent.

The other major stocks that hit a 52-week high on the NSE include Mazagon (14.02%), Siemens (5.26%), VBL (3.98%), and JSW Infra (3.49%).

A total of 3,980 stocks were traded on the BSE of which 2,244 advanced, 1,621 declined and 115 remained unchanged. The number of stocks that hit a 52-week high was 319 and at a 52-week low was 12.