NSE Nifty was up by 0.15 per cent or 32.60 points to 21,691.20, while the BSE Sensex was at 71,921.24, up by 0.11 per cent or 67.08 points.
Of the 3,860 stocks traded on BSE, 2,247 advanced, 1,492 declined and 121 stocks remained unchanged. 456 stocks hit 52 week high and 12 stocks hit 52 week low at 1 pm on Friday.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “An important feature of the ongoing rally in the market is that retail investors, not institutions, are calling the shots. This retail exuberance is getting reflected in the records being set by the mid- and small-cap indices even at frothy valuations in these segments. The excessive valuations of the broader market cannot continue for long.
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“Big corrections are likely in the broader market; the only question is when the risk to the global rally can come from the Fed which may turn out to be less dovish than the market expectation. Latest data from the US indicate an economy which is not weakening as much as the Fed would like. So watch out for the Fedspeak.
IT stocks have corrected anticipating poor Q3 numbers.
Major gainers on the NSE at 1 pm were Adani Ports (2.88%); Adani Enterprises (1.56%); TCS (1.37%); Hero motocorp (1.34%); Wipro (1.26%). Major losers were Britannia (-1.78%); Sun Pharma (-1.38%); Nestle India (-1.33%); Divi’s Lab (-1.07%); HDFC Bank (-1.03%).