The Indian equity benchmarks BSE Sensex and NSE Nifty 50 ended with gains on Friday after the Reserve Bank of India kept the repo rates and stance unchanged. Sensex rose 364 points to 65,996 and Nifty gained 106 points to 19,651. Nifty Bank gained 159 points to 44,373 and Midcap index 239 points to 40,285.

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The Nifty Bank index also performed well, gaining 159 points to reach 44,373, and the Midcap Index climbed 239 points to reach 40,285. Rate-sensitive sectors, particularly Real Estate and Non-Banking Financial Companies (NBFCs), witnessed significant surges following the RBI policy announcement.

Stock wise movements

Bajaj Finserv, Bajaj Finance, Titan Company, IndusInd Bank and Tata Consumer Products are among the top gainers on the Nifty, while losers included HUL, ONGC, Coal India, Bharti Airtel and Asian Paints.

All the sectoral indices ended in the green with realty index up 3 percent, while Information Technology, FMCG, Metal, Auto, Power, Healthcare up 0.4-1 percent.

Bajaj Finance stock surged, thanks to its Rs 8,800 crore Qualified Institutional Placement (QIP), closing at a 52-week high. Additionally, the issuance of warrants to Bajaj Finserv provided a boost, with the stock gaining over 6%.

Titan Industries neared a record high ahead of its quarterly updates, while IT stocks, including TCS and Infosys, gained momentum in anticipation of upcoming earnings reports, pushing TCS to a 52-week high.

Multi Commodity Exchange (MCX) saw a 5% surge following reports that SEBI's technical panel had approved a new platform transition.

IndiGo closed with a 2% gain as the company announced a fuel surcharge in response to rising ATF (Aviation Turbine Fuel) prices.

In contrast, Vodafone Idea faced a setback as the Department of Telecommunications (DoT) rejected the company's plea regarding license fees, leading to a nearly 3% decline in its stock.

Godrej Consumer and Dabur experienced slips in their stock prices, despite largely in-line quarterly updates.

Market Performance for the Week

For the week, the overall market remained relatively flat, with the Sensex rising by 0.3% and the Nifty up by 0.1%. However, the Midcap Index erased gains from the previous week, seeing a nearly 1% decline, and the Nifty Bank also experienced a similar drop.

Among the Nifty stocks, Bajaj Finserv, Titan, and Bajaj Finance emerged as the top gainers for the week, while ONGC, NTPC, Hindalco, Axis Bank, and Maruti faced losses.

In the midcap segment, MGL, Godrej Properties, IndiGo, Birlasoft, and IRCTC were among the top gainers, while Dalmia Bharat, Glenmark, Indiabulls Housing Finance, and Vodafone Idea faced losses.

First Published:Oct 6, 2023 3:43 PM IST