Mumbai17 july. Despite the ongoing tension in the Middle East, the domestic stock market gained momentum on Friday, the last day of the trading week, due to good buying in Reliance Industries and banking stocks led by the Information Technology (IT) sector and both the benchmark indices closed with strong gains. In this sequence, while BSE Sensex crossed 78,000 with a jump of 965 points, NSE Nifty stopped with a gain of 262 points.

According to market analysts, despite the rise in crude oil prices, investor sentiment was supported by favorable quarterly results of major domestic companies and buying in IT companies. However, there was a negative trend in the broader market.

Sensex 964.58 points jump 78,151.45 off on

The 30-share sensitive index Sensex of Bombay Stock Exchange (BSE) closed at 78,151.45 points, jumping 964.58 points or 1.25 percent. At one point during trading, it had climbed 1,095.68 points to reach 78,282.55 points. Among the companies associated with Sensex, 24 stocks remained in the green while six remained weak.

nifty 261.55 by increasing points 24,334.30 off on

On the other hand, the standard index Nifty based on 50 shares of National Stock Exchange (NSE) also increased by 261.55 points or 1.09 percent and closed at 24,334.30 points. Among the companies associated with Nifty, shares of 37 remained strong while shares of 13 showed weakness.

However, in the broader market, the BSE Smallcap Select index of small companies declined by 0.32 percent, while the BSE Midcap Select index of medium companies declined by 0.07 percent.

If we look at the sectoral index, the private bank index rose by 1.81 percent, while the top 10 bank segment was up by 1.78 percent, the IT segment was up by 1.38 percent and the financial services segment was up by 1.20 percent.

Tech Mahindra shares 3.91 percentage jumped

Among the companies included in the Sensex group, Tech Mahindra’s share rose by about 3.91 percent after favorable quarterly results. Apart from this, shares of Reliance Industries also closed up by about three percent before the announcement of quarterly results.

Kotak Mahindra Bank, TCS, Reliance Industries, Hindustan Unilever, Mahindra & Mahindra, Axis Bank, ICICI Bank and Bajaj Finance were also among the gainers. On the other hand, Sun Pharma, Trent, Bharti Airtel and UltraTech Cement were among the losers.

FII has 4,205.56 Sold shares worth crores of rupees

According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,205.56 crore on Thursday. Meanwhile, global oil standard Brent crude rose 1.79 percent to $ 85.52 per barrel amid ongoing tensions in West Asia.