Indian stock market extended the gain for the ninth session today. BSE Sensex rose 38 points and closed at 60,431 while Nifty 50 gained 16 points to end at 17,828.

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IndusInd Bank, HDFC Life, Eicher Motors, Apollo Hospitals and Power Grid Corp were the top gainers on Nifty 50 while Infosys, HCL Technologies, Tech Mahindra, NTPC and TCS were the top laggards.

Amongst sectoral indices Nifty Information Technology index shed 2 percent, while capital goods, pharma and oil and gas indices declined 0.5 percent each. PSU Bank and Realty indices closed rising 1 percent each.

"Nifty remained subdued for most of the day. However, a sharp jump in banking stocks helped Nifty recover in the last hour and close with marginal gains of 16 points at 17828 levels. Bank Nifty was the top gainer, up 1.4 percent followed by Realty Index, which was up 1.1 percent. While weak commentary from TCS put pressure on the IT sector, which was down 2.2 percent Nifty closed in positive territory for the 9th consecutive day and has now touched its 7-week high. Consistent FII inflows in the cash segment along with short covering on the F&O side have been supporting the market for the last several days. Domestic macro data continues to remain positive and support the uptrend. Weak numbers from TCS and Infosys would keep the technology sector under pressure. The market would also react to HDFC bank numbers to be released on Saturday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Nifty Bank gained 575 points to 42,133 and midcap index increased 61 points to 30,885. Midcap IT stocks too saw a major fall. Shares LTIMindtree, Persistent and Mphasis declined over 3 percent.

IndusInd Bank shares surged 10 percent from lows to end the session with a gain of 3 percent. Further after an upgrade by brokerage firm Goldman Sachs Eicher Motors shares rose another 3 percent.

BSE Companies gained market capital of nearly Rs 30,000 crore on Thursday.

Also read: Stock Market Highlights: Sensex, Nifty end higher for ninth day, longest winning streak in over two years

First Published:Apr 13, 2023 3:46 PM IST