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On daily charts, we can observe that Nifty has been consolidating after a sharp rally of about 350 points in the previous couple of trading sessions. This consolidation is a healthy sign and shall set the floor for the next leg of an upmove. On the downside, the gap area formed in the range 19718 – 19757 is likely to act as a short-term support, and on the upside, the rally has the potential to extend to 19,884 – 20,030.

The Dow Jones Industrial Average rose 40.78 points, or 0.12%, at the open to 33,845.65

From the Sensex pack, Infosys, Tech Mahindra, TCS, and HCL Tech were the top laggards, falling 1.9-2.8%. Bajaj Finance, Wipro, Nestle, Kotal Bank, and SBI also closed lower. On the flip side, Maruti, Power Grid, NTPC, and M&M closed with gains

The board has declared an interim dividend of Rs 12 per equity share for the financial year 2023-24. The record date has been fixed as October 20 and the payment will be done on October 31

But in the smallcap category, one of the best-performing funds has been Aequitas Investment’s “India Opportunities”, giving more than 3% returns in September, and a staggering 82% over a 1-year period.

"Gold prices advanced further on Thursday, following positive trade in the overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

The Nifty IT index closed 1.67 per cent down at 32003.65.

The software major sees revenue growing 1.0-2.5% in constant currency terms in FY24, compared to 1.0-3.5% earlier. This is primarily due to a slowdown in discretionary spending, the company said in a post-earnings press conference. While Infosys cut the upper end of its revenue growth guidance, the company retained its operating margin target of 20-22%.