Indian market halts the losing streak, Nifty reclaims 22,000 mark, Broader markets outperform

On Friday, the 30-share BSE SENSEX closed in green, gaining by 0.36% to settle at 72,644.47. NSE NIFTY 50 ended at 22,055.20 which soared by 0.44%. The Bankex index Bank Nifty ended down by 0.14%. The India VIX closed at 18.47.

The broader market also closed in green with the Nifty Midcap 100 soaring by 0.86%, while the Nifty Smallcap 100 increased by 0.69% on Friday. Market breadth was strong today as 1,631 stocks gained and 945 stocks declined on NSE.

Among sectors, most of the indices ended the day with significant gains. The top three sectoral performers were NIFTY Metal (+1.54%), NIFTY Oil & Gas (+1.22%) and NIFTY FMCG (+1.19%). On the other hand, the top two losers were Nifty IT (-0.82%) and Nifty Realty (-0.44%).

In the Asian equity markets, the majority of indices were in green. The Hang Seng index climbed by 2.30%, and the Shanghai market ended flat.

At 4:00 PM: Dow Jones Futures were seen trading at 39,645, with minor gains of 0.28%.

On Friday, shares of Cipla Limited slumped by 1.38% on the NSE. The company announced its fourth-quarter results for FY24. Revenue stood at ₹6,163 crore, which was 10% up YoY and Net Profit was ₹939 crore, increasing by 79% YoY. The board declared a dividend of ₹13 per equity share of ₹2.

Fine Organic Industries Limited's stock zoomed by 5.42% on the BSE. The company announced its financial results for Q4FY24. Revenue from operations grew to ₹546.88 crore compared to ₹596.62 crore during the same quarter of the previous year. The board declared a dividend of ₹10 per equity share of ₹5.