Leader Online Desk: Sensex, Nifty closed lower in the volatile session of the Indian stock market on Friday (21st). The Sensex closed down 269 points at 77,209. While the Nifty settled at 23,501 with a minor decline of 65 points. Interestingly, IT shares continued to gain strongly today. On the sectoral front, IT, Metals, Media and Telecom gained 0.5-1 per cent, while Auto, FMCG, PSU Bank and Realty declined 0.5-1 per cent.
What exactly happened in the market?
The stock market had a strong start today. The Nifty 50 opened at new highs. Sensex was also strong. But in the second hour of the trading session, the market saw profit booking and both the indices fell. Indian benchmark indices witnessed sudden selling pressure in today's trading session. But losses were partially recovered by the end of the trading session. Indices fell on selling pressure in some heavyweight stocks.
Which stocks are bullish?
The Sensex opened at 77,729 today. It touched the figure of 77,808 in today's trading session. But then it dropped to 77,200. Shares of Ultratech Cement, Reliance, LT, Tata Steel, Bajaj Finance, Hindustan Unilever, Nestle India, Tata Motors, SBI, Asian Paints fell on the Sensex. While Bharti Airtel, Infosys, Power Grid, Wipro, TCS saw an increase in the shares.
Nifty touches new high
The NSE Nifty 50 touched a fresh high of 23,667 in early trade today. After that Nifty fell below 23,500. Shares of Ultratech Cement, Adani Enterprises, BPCL, Hindustan Unilever, Tata Motors fell between 1-2 percent on Nifty. While the shares of Bharti Airtel, LTIMindtree, Adani Ports, Hindalco, Infosys rose by 1 to 2 percent.
IT shares shined
Nifty IT gained around 2 percent in today's session. Shares LTIMindtree, Persistent, Infosys, Coforge and TCS remained the top gainers. IT services company Accenture has forecast better-than-expected annual revenue growth on the back of growing demand for its artificial intelligence tools. That sent Accenture shares up about 7 percent in U.S. market trading. Against this backdrop, IT shares boomed in the Indian stock market.
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