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Finance Minister Nirmala Sitharaman promised economic reforms to drive growth in her Budget speech, which was largely expected to avoid significant spending on new welfare programmes ahead of the election
Top losers on the Nifty included HUL, M&M, TCS, IndusInd Bank and HCL Technologies, while gainers were Coal India, Adani Ports, Adani Enterprises, Kotak Mahindra Bank and ICICI Bank. The market will be closed on January 22
All the sectoral indices ended in the green, with auto, capital goods, IT, FMCG, metal, oil & gas and power up 1-2 percent
Nifty on Friday ended 160 points higher to form a Doji candle on the daily chart as the index reclaimed its short-term moving averages but lacked decisiveness. As long as the sharp opening downside gap of Wednesday remains open at 21,970, there is a higher probability of a ‘sell on rise in the market for the short term. Immediate support is at 21,550 level, said Nagaraj Shetti of HDFC Securities.
In November, when Nifty 50 gave over 5% returns, 334 smallcap stocks registered double-digit returns.