Bullish momentum:Sensex off day's peak, Yet soars over 500 pts

The domestic share market indices ended higher on Friday,after three-day losing streak.Reportedly,today's session was action- packed as four Nifty companies are slated to post their December quarter earnings, including India's biggest firm by market value Reliance Industries.At close, the Sensex was up 496.37 points or 0.70 percent at 71,683.23, and the Nifty was up 160.15 points or 0.75 percent at 21,622.40. About 2183 shares advanced, 1043 shares declined, and 62 shares unchanged.
Stocks and Sectors
ONGC, Bharti Airtel, NTPC, Tech Mahindra and SBI Life Insurance were the top gainers on the Nifty, while losers included IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, Divis Lab and Adani Ports.
On the sectoral front,all indices ended in the green with auto, capital goods, Information Technology, FMCG, metal, oil & gas and power up 1-2 percent each. BSE Midcap and smallcap indices added 1% each.
On 19 Jan'24,the Indian rupee depreciated 1 paisa to close at 83.14 against the US dollar in early trade on Friday, amid heavy selling of equities by Foreign Institutional Investors (FIIs).Forex traders said positive cues from the domestic equity markets and a softer dollar provided support to the Indian currency.
Experts Take:
Market experts have recommended six stocks to buy for Friday-MGL, Tata Motors, Sun Pharma, Lupin, Suzlon Energy, and HBL Power.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)