Sensex jumps 685 points, Nifty ends near 17,200; Infosys, HDFC, HDFC Bank shine

The key benchmark indices bounced back with panache in opening trades this morning taking cues from the global peers. The S&P BSE benchmark index soared to a high of 58,435 in intra-day deals led by strong gains in IT major Infosys and the HDFC twins.

Infosys rallied over 5 per cent to a high of Rs 1,494 on the back of healthy Q2 performance and Rs 9,300 crore share buyback. Analysts expect the stock to log further gains in the coming trading sessions. READ MORE

The key indices, however, pared gains in the latter half of the trading sessions as the overall sentiment remained cautious in the backdrop of a high inflation scenario globally. The Sensex eventually ended 685 points higher at 57,920. Thanks to the Friday-rally, the BSE index was able to trim its weekly loss to 271 points.

The NSE Nifty 50 index rallied past the 17,300-level in early deals, but finally settled at 17,186 – up 171 points.

The broader indices erased the entire day’s gain towards the close. The BSE Midcap index was up 0.1 per cent, while the Smallcap index ended unmoved.

Sectorally, the BSE IT and Bankex surged 1.7 per cent each. The Capital Goods index was the other notable gainer. On the other hand, Oil & Gas and Power indices slipped over a per cent each.

The overall breadth was marginally positive, with 1,835 stocks advancing versus 1,608 declining shares on the BSE.

Shares of Federal Bank surged 6 per cent to hit an all-time high of Rs 132.10 on the BSE in Friday’s intra-day trade on heavy volumes after the bank delivered its highest ever quarterly net profit at Rs 704 crore (up 53 per cent year-on-year) in the September quarter (Q2FY23).

Shares of Nykaa hit the lowest level since listing as the stock slipped 53% from record high. The stock hit lowest level since its listing in November last year and was down the fourth straight day at Rs 1,206.90, falling 6 per cent, during the period. In comparison, the S&P BSE Sensex was up 1.8 per cent at 58,245 points.

Infosys surged 5% on the back of Q2 earnings and Rs 9,300 cr share buyback. The IT major has increased the lower end of the revenue guidance keeping upper end constant i.e. revenue guidance changed from 14-16 per cent to 15-16 per cent in constant currency terms.

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