InvestorQ : What stocks led the markets higher on 12 October?
Debbie Mascarenhas made post

What stocks led the markets higher on 12 October?

Arti Chavan answered.
2 years ago

Nifty and the Sensex rallying for the ninth day in succession were largely led by Infosys and other technology stocks. This kept the markets buoyant on Monday despite the sell-off that was seen in some of the banking stocks.

Markets were also less than impressed by the small size of the stimulus of just Rs.36,000 crore and its rather patchy and amateur structuring. The stimulus was announced by Nirmala Sitharaman in the afternoon and markets were less than amused.

After TCS, hopes of good numbers from Wipro, HCL Tech and Infosys kept the markets enthused. Sensex closed 84 points higher at 40,594, Nifty closed 17 points higher at 11,931. The Nifty is still below the psychological resistance of 12,000, while Sensex has already crossed the 40,000 barrier.

The volatility index or the fear index represented by the NSE VIX could be an issue as it scales above the 21 mark indicating caution. Infosys was the biggest gainer among heavy weights followed by ITC, UPL, Cipla, Asian Paints, Reddy Labs and Wipro. Bharti was the one large cap stock to lose value.