Stock market hits downward trend again, IT companies doing good business

New Delhi:

The stock market had a good start on the last day of the trading week on Friday. The main index of BSE opened at 57,567 points.

But by the time this report was written, the


Sensex had come down by 139 points. About two dozen stocks were trading above the green mark.

Nifty50 of the National Stock Exchange (NSE) also opened with a rise at 17,149.50 points but declined soon. Earlier, the domestic stock market rose for the third consecutive day and the BSE Sensex closed with a gain of 385 points on Thursday.

Markets firmed up with gains in Infosys, ITC and HDFC, which had strong interventions in the index, amid a positive trend in global markets.

The 30-share BSE Sensex closed at 57,315.28, up 384.72 points, or 0.68 per cent. Similarly, the NSE Nifty jumped 117.15 points, or 0.69 per cent, to end at 17,072.60. POWERGRID was the top gainer with the BSE Sensex gaining nearly four per cent. Apart from this, ITC, Bajaj Finance, Infosys, NTPC and Tech Mahindra were also among the gainers.

On the other hand, the gainers included Bharti Airtel, Sun Pharma, Maruti and Ultratrak Cement. Anand Rathi Company’s Head of Equity Research (Fundamental) Narendra Solanki said the domestic market opened well with a positive trend in other Asian markets. The study’s study of the reduced risk of serious illness and hospitalization for people infected with the Omicron form compared to Delta had a positive impact on investors.

He said that the market remained strong in the afternoon trade as well. The market also got support from ICRA’s report. The report said that the profitable position of sugar, fertilizer and dairy sectors will remain stable in 2021-22. In other Asian markets, Shanghai Composite Index in China, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Cospi were among the gainers.


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