ICICI Bank, Bajaj Finance, and Power Grid were among the top gainers in the stock market. On the other hand, Kotak Mahindra Bank, Tata Steel, and Larsen & Toubro were the laggards in trade. In Asian markets, Seoul, Tokyo, and Shanghai were experiencing a decline in trading.
The benchmark indices, Sensex and Nifty, started the day with minimal movement due to weak trends in global markets. The Sensex increased 56.3 points to 65,453.92, while the Nifty gained 14.2 points to reach 19,556.85. However, as the day progressed, both indices faced volatile trends and were slightly in the red at the time of publishing.
Among the Sensex firms, ICICI Bank, Bajaj Finance, Power Grid, Mahindra & Mahindra, UltraTech Cement, Nestle, Bajaj Finserv, and Reliance Industries Limited were the major gainers. On the other hand, Kotak Mahindra Bank, Tata Steel, Larsen & Toubro, Tata Consultancy Services, JSW Steel, Tech Mahindra IndusInd Bank, and Titan were among the laggards.
Deven Mehta, a Research Analyst at Choice Broking, commented on the market’s technical aspects, stating that the Nifty may find support at 19,500, followed 19,450 and 19,400. If the index continues to rise, the key resistance levels to watch out for would be 19,575, 19,650, and 19,700.
In Asian markets, Seoul, Tokyo, and Shanghai were trading on a downward trend. The US markets also ended in negative territory on Friday. Additionally, the global oil benchmark, Brent crude, experienced a decline of 0.89% and reached USD 91.34 per barrel.
The data from the National Stock Exchange (NSE) showed that foreign institutional investors (FII) bought shares worth Rs 456.21 crore, while domestic institutional investors (DII) purchased stocks worth Rs 8.53 crore on October 20.
On Friday, the BSE benchmark fell 231.62 points or 0.35%, settling at 65,397.62. Similarly, the Nifty declined 82.05 points or 0.42%, closing at 19,542.65.
(With text input from PTI)