Closing Bell: Market remains volatile throughout the week, Nifty settles below 19800, Sensex over 66000, IT drops over 1%

The benchmark equity indices closed Friday’s trading session in negative territory. The NSE Nifty 50 ended down by 7.30 points or 0.04% to settle at 19,790.55, while the BSE Sensex ended down by 47.77 points or 0.07% to 65,970.04. Bank Nifty index gained over 191.60 points or 0.44% to settle at 43,769.10.

The broader indices ended largely mixed, with gain led by Smallcap and Midcap stocks. Healthcare and Banking stocks gained among the other sectoral indices while IT and FMCG stocks shed.

Mishra also adds that, it is a healthy consolidation in the Nifty so far and we feel only a decisive gap-up move above 19,850 could pave the way for a new high else range bound bias would continue. Participants should keep a close watch on the US markets and the performance of the banking majors for cues. Meanwhile, stay selective and avoid contrarian trades.

Adani Enterprises, Cipla, Divis Labs, Hindalco Industries, and Adani ports & SEZ were the top gainers on the NSE Nifty 50, while the laggers include Wipro, Apollo Hospitals, HCL Technologies, TCS and Britannia Industries.

The Indian Volatility Index (India VIX) closed up by 0.13%.