Sensex Rises Over 300 Points, Nifty Closes Above 23,050; IT, Pharma Stocks Lead Market Gains

Stock Market Today (Image Source: PTI)

Indian stock markets ended Friday's trading session in positive territory, with benchmark indices Sensex and Nifty registering gains of around half a per cent. Buying interest in information technology (IT) and pharmaceutical stocks provided support to the market, although selling across several other sectors restricted the overall advance. The NIFTY 50 finished at 23,053.10, adding 116.35 points or 0.51 per cent. Meanwhile, the BSE Sensex advanced 308.49 points, or 0.42 per cent, to close at 74,459.53.

Despite the gains in frontline indices, the broader market mood remained cautious as several sectoral indices ended the session lower. Concerns surrounding elevated crude oil prices, geopolitical tensions in the Middle East and continued foreign investor selling also remained on investors' radar.

Information technology shares emerged as the strongest performers among NSE sectoral indices during Friday's session. The Nifty IT index climbed 2.16 per cent, while the Nifty Pharma index gained 1.67 per cent. The Nifty Healthcare index also advanced 1.59 per cent.

However, the positive momentum was not reflected across the wider sectoral market. The Nifty Media index recorded the steepest decline, falling 1.58 per cent. Nifty PSU Bank dropped 1.15 per cent, while Nifty Realty declined…

Original source: https://www.timesnownews.com/business-economy