Business Economy


Market ends higher in volatile session, Nifty nears 25,700

New Delhi, Nov 11 (UNI) The stock market on Tuesday ended higher in the volatile session and extended the winning run for the second straight session. Nifty closed near 25,700 on the back of positive global markets.
At close, the Sensex was up 335.97 points or 0.40% at 83,871.32, and the Nifty was up 120.6 points or 0.47% at 25,694.95.
Broader indices underperformed the main indices with BSE Midcap and Smallcap indices ended on flat note. The BSE Midcap index also ended in the green, rising 0.20%, but the Smallcap index slipped by 0.09%.
Among the sectors, Nifty Auto and IT clocked strong gains of 1.07% and 1.20%, respectively while Nifty Metal up by 0.71% and Oil & Gas up by 0.59% also clocked healthy gains. Nifty Bank ended 0.35% higher at 58,138.15.
On Nifty50, around 40 stocks ended higher with the top gainers being InterGlobe Aviation up by 3.55%, BEL up by 2.39%, and Mahindra and Mahindra up by 2.22%.
Shares of Bajaj Finance (7%), Bajaj Finserv (5.92%), and ONGC (0.60%) ended as the top losers in the index.
Out of 4,363 stocks traded on the BSE, 1,936 advanced, while 2,245 declined. Some 182 stocks remained unchanged.
The initial public offering (IPO) of Pine Labs has been subscribed nearly 2.5 times its offer size on its third and final day of bidding. The IPO received bids for nearly 24.06 crore shares, as against an offer size of around 9.79 crore shares.
More than 100 stocks touched their 52-week high on the BSE. These included Craftsman, Bharat Forge, BHEL, NALCO, Ashok Leyland, Hitachi Energy, M&M, Asahi India, Muthoot Finance, Can Fin Homes, IOC, Shriram Finance, Torrent Pharma, MCX India, Laurus Labs, among others.
Defence stocks like Bharat Heavy Electricals, Garden Reach Shipbuilders, Bharat Electronics, Shipping Corporation of India, and Solar Industries India advanced between 3% and 5%.
Market opened higher on the back of positive global markets, but failed to hold on the gains. Indices traded negative in the first half as investors remained concerned over Delhi bomb blasts.
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