On Gandhi Jayanti 2023, stock markets in India remained closed to observe the national holiday honoring Mahatma Gandhi’s birth anniversary. Prior to the holiday, the stock market experienced positive movements.
On the previous trading day (Friday), the Sensex, which represents the performance of 30 major companies, rose by 320 points, closing above the 19,600 mark. This increase was attributed to value-buying activities in sectors like metal, finance, and energy, influenced by positive trends in the US and European markets.
Notable gainers in the stock market included companies like NTPC, Tata Motors, Sun Pharma, Tata Steel, State Bank of India, UltraTech Cement, JSW Steel, Bajaj Finance, Reliance, ICICI Bank, and IndusInd Bank. However, some companies like Power Grid, HCL Technologies, Tech Mahindra, Tata Consultancy Services, Infosys, and Titan faced declines.
In the broader market, midcap stocks rose by 1.31%, and smallcap stocks advanced by 0.57%. Among various sectors, metal and healthcare saw significant increases, while IT and technology sectors lagged behind.
For the entire week, the stock market experienced a slight decline. Additionally, in the global context price of Brent crude oil dropped to USD 95.28 per barrel. Foreign Institutional Investors (FIIs) sold equities worth ₹3,364.22 crore on Thursday, according to exchange data.
Inputs from PTI