Market wrap, Oct 9: SENSEX jumps 879 pts, NIFTY50 ends above 22,500 as IT stocks rally; Apollo Hospitals top gainer

The Indian equity market recovered from the previous session’s losses to end higher on Friday, October 9, supported by strong gains in IT and FMCG stocks and easing crude oil prices.

During the intraday period, the 50-share index and SENSEX touched intraday highs of 26,202.60 and 72,669.20, respectively.

Global crude oil prices were trading below $103 per barrel (bbl) on Friday, October 9, as energy prices retracted from their previous evening highs of $105.02 per bbl.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹12,943.58 crore, while the domestic institutional investors (DIIs) bought equities worth ₹10,703.11 crore on a net basis.

Globally, indices in Asia ended mixed after they recovered from early losses on Friday.

Japan's Nikkei fell 0.02%, Singapore's Straits Times declined 0.2%, while Hong Kong's Hang Seng gained 1.45%, and China's Shanghai Composite rose 0.05%.

On Wall Street, the US equity market indices ended on a mixed note after the trading session on Thursday, October 8, as investors focused on a sell-off in tech and chipmaking stocks, while energy prices counted the losses at the Dow Jones, which ended marginally higher.

The Dow Jones Industrial Average gained 51.77 points, or 0.10%, to 51,231.64, the S&P 500 fell 36.41 points, or 0.47%, to 7,765.36 and the Nasdaq Composite slipped 345.35 points, or 1.25%, to 27,193.34.

Here are the key developments of Friday's session that you need to know

As many as 3,684 stocks traded on the NSE on Wednesday. Out of this, 2,183 advanced and 1,393 stocks declined, while 108 scrips remained unchanged.

This indicated that the market breadth was in favour of advances.

A total of 51 stocks hit their 52-week highs, while 215 stocks touched their one-year lows. Besides, 111 stocks hit their upper circuit limits, and 115 touched their lower circuit bands on Wednesday.

The market capitalisation of NSE-listed firms stood at ₹461.32 lakh crore at the close of the session.

India VIX, the volatility gauge, stood at 14.36 levels, slipping 6%.

The broader market also closed the session positive, with the Nifty Midcap 100 rising 1.56% to settle at 58,787.30, while the Nifty Smallcap 100 rose 0.54% to end at the 19,153.70 level.

Except for NIFTY Oil and Gas (-0.09%), all the other sectoral indices ended in green.

NIFTY IT (3.02%), NIFTY FMCG (2.2%), NIFTY PSU Bank (1.63%), NIFTY Auto (1.42%) and NIFTY Private Bank (1.32%) were the most gaining sectors.

On the NIFTY50 index, 46 stocks closed higher, while only 4 declined by the end of the session.

Apollo Hospitals (4.72%), ITC (4.31%), Eicher Motors (4.17%), TCS (3.85%) and HCL Technologies (3.38%) were the biggest contributors.

On the contrary, BSE (-1.43%), Reliance Industries (-0.65%), JSW Steel (-0.61%) and Cipla (-0.44%) were the only losing stocks on the 50-share index.