In a strong follow-up to Tuesday's gains, the market closed at a three-week high, bolstered by notable performances from key players, including Reliance, HDFC Bank, and FMCG majors such as HUL and ITC. The positive momentum was reflected in various indices:

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NSE

Key players like Reliance, HDFC Bank, and FMCG majors, including HUL and ITC, played a pivotal role in driving the market's upward trajectory.

The market indices reflected this positive momentum, with BSE Sensex surging by 394 points to reach 66,473, and Nifty 50 gaining 120 points to settle at 19,809. Nifty Bank advanced by 172 points to close at 44,533, while the Midcap Index posted a solid 188-point increase, ending at 40,474.

However, the IT sector saw a shift in investor sentiment as caution prevailed in anticipation of upcoming earnings reports. Leading IT firms such as HCLTech, TCS, Coforge, and L&T Tech faced losses, emerging as the top losers in the IT space. Bank of Baroda (BoB) faced a decline of more than 3% following an RBI order related to its application, while ICICI Prudential continued its losing streak with a weak update for the second consecutive month.\

Stock wise movements

Biggest gainers on the Nifty were Hero MotoCorp, Wipro, Grasim Industries, UltraTech Cement and Dr Reddy's Laboratories, while losers were HCL Technologies, Adani Ports, SBI, Coal India and TCS.

Except PSU Bank, all other sectoral indices ended in the green with auto, FMCG, metal, pharma, power, oil & gas and realty up 0.5-1%.

Bank of Baroda (BoB) faced a decline of more than 3% following an RBI order concerning its application.

ICICI Prudential continued its losing streak, reporting a weak update for the second consecutive month, leading to a decline in its stock value.

Vodafone Idea saw an impressive rise of up to 9%, and Indus Towers posted a 3% increase in their stock values, backed by healthy trading volumes.

Cement stocks saw an upswing in response to reports of price hikes, with Ramco Cement emerging as the top gainer in the sector.

The Multi Commodity Exchange (MCX) surged to a record high, with the company set to go live on a new platform starting October 16.

United Spirits Limited (USL) gained more than 2% amid reports suggesting a visit by the UK Prime Minister to India for Free Trade Agreement (FTA) talks.

The Adani Group remained in focus as reports surfaced regarding a SEBI probe, causing Adani Ports and Adani Enterprises to dip 2% from their recent highs.

Hero MotoCorp experienced a 4% surge as CLSA upgraded the stock to "Buy," with a target price raised to `3,701.

Escorts hit a record high as reports indicated the company's potential sale of its rail business to a German counterpart.

First Published:Oct 11, 2023 3:39 PM IST