Mumbai, February 6: The Indian stock market closed on a positive note during Friday’s trading session, following the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting. By the end of the day, the Sensex rose by 266.47 points, or 0.32%, to reach 83,580.40, while the Nifty increased by 50.90 points, or 0.20%, closing at 25,693.70.
The market rally was primarily driven by gains in the FMCG and consumer durables sectors. ITC closed up by 5%, and HUL saw a rise of 2.96%.
Among the indices, Nifty FMCG rose by 2.27%, Nifty Consumer Durables by 0.96%, Nifty Consumption by 0.71%, Nifty Realty by 0.63%, Nifty Private Bank by 0.63%, Nifty Energy by 0.61%, and Nifty Oil and Gas by 0.51%.
Conversely, Nifty IT fell by 1.47%, Nifty Pharma by 0.72%, Nifty India Defense by 0.66%, Nifty Healthcare by 0.62%, and Nifty Auto by 0.52%.
In the Sensex pack, gainers included ITC, Kotak Mahindra Bank, HUL, Bharti Airtel, Bajaj Finance, Power Grid, Bajaj Finserv, Titan, Axis Bank, ICICI Bank, Mahindra & Mahindra, and L&T. Losers were Tech Mahindra, TCS, Asian Paints, Eternal, HCL Tech, HDFC Bank, Infosys, and BEL.
Midcap and small-cap stocks experienced selling pressure compared to large caps. The Nifty Midcap 100 index fell by 14.40 points, or 0.02%, to 59,502.70, while the Nifty Smallcap 100 index dropped by 45.25 points, or 0.27%, to 16,938.65.
Sudeep Shah from SBI Securities noted that the Nifty started weak, hitting a low of 25,492 during the day. However, it later gained momentum, closing at 25,694.
He further mentioned that the resistance levels for the Nifty are between 25,750 and 25,800. A breakout above this range could push it to 26,000 and then to 26,200. The support levels are between 25,550 and 25,500.
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ABs/
