CatalystIndia

Sensex rises 308 points, Nifty above 23,000 even as broader markets crash. Will D-Street bulls extend recovery next week?

Sensex gained 308 points and Nifty crossed 23,000 despite broader market declines.

Context

What happened: Sensex rose 308 points to close near 74,460 and Nifty 50 gained 116 points to end at 23,053 on Friday, even as broader markets crashed. Key numbers: Sensex +308 points to nearly 74,460; Nifty 50 +116 points to 23,053; Nifty Midcap 100 and Nifty Smallcap 250 fell up to 2%; Trent and IndiGo rose up to 5%; NSE saw 2,511 declines against 1,013 advances, with 109 unchanged. Why it matters: Large-caps showed relative resilience, supported by IT, pharma and healthcare, while an analyst said value buying opportunities are in large-caps temporarily out of favour due to FII selling.

What changed

Sensex rose 308 points to close near 74,460 and Nifty 50 gained 116 points to end at 23,053 on Friday, even as broader markets crashed.

Why it matters

Large-caps showed relative resilience, supported by IT, pharma and healthcare, while an analyst said value buying opportunities are in large-caps temporarily out of favour due to FII selling.

Sources

economictimes