Nifty Extends Rally as Sensex Falls Due to Weakness in IT Stocks
The Indian equity market ended on a mixed note on Friday, as the Nifty 50 index closed higher for the third consecutive day while the Sensex dipped. The Nifty gained 75.80 points to settle at 23,346.40, but the Sensex lost 19.63 points to end at 74,294.96.
The decline in crude oil prices provided some relief against inflation concerns, with Brent crude falling 1.35% to $103.4 per barrel. However, weakness in IT stocks and Tata Group counters offset this gain. TCS tanked 4.33%, Titan fell 2.11%, Asian Paints dropped 2%, Maruti slid 1.98%, Tech Mahindra declined 1.82%, and Tata Steel slipped 1.73%.
Adani Ports, Power Grid, HDFC Bank, and Bharti Airtel were among the major winners in the market. The mega Rs 22,569-crore IPO of the National Stock Exchange of India was fully subscribed on its second day of bidding.