Sensex Jumps Over 300 Points, Nifty At 16,676 After Initial Hiccups
On the Sensex platform, Bajaj Finserv, Sun Pharma, Axis Bank, Bajaj Finance, Tata Steel, HDFC Bank, Kotak Bank, Ultra Cements, HDFC, ICICI Bank, IndusInd Bank, and others were trading the in the green
New Delhi: The key domestic benchmarks, Sensex and Nifty, on Friday started trade lower with Sensex falling 300 points led by weak global cues. However, the markets soon started climbing up the ladder and entered into positive zone. After election result boost, Ukraine and inflation concerns were back to the fore for global equities after a brief interval.
At 10 am, the 30-share BSE Sensex jumped 321 points to 55,785, while the NSE Nifty logged 16,676, up 81 points.
On the Sensex platform, Bajaj Finserv, Sun Pharma, Axis Bank, Bajaj Finance, Tata Steel, HDFC Bank, Kotak Bank, Ultra Cements, HDFC, ICICI Bank, IndusInd Bank, SBI, Bharti, ITC, Reliance, and others were trading the in the green.
On the flipside, NTPC, Titan, and TechM were the prominent losers.
The broader markets, after recovering from opening losses, were trading positively. The BSE Midcap and Smallcap indices were up to 0.9 per cent higher.
Sectorally, Nifty Auto, FMCG, and IT were the top laggards, while Nifty Metals was the top performer, up over a per cent. PSU Banks, Realty and Media indices were other notable gainers. Out of 15 sector gauges, 12, compiled by NSE, were gaining.
In the previous session on Thursday, Sensex jumped 817 points to 55,464, while the Nifty, moved to 16,595, up 250 points.
Investors’ wealth surged over by Rs 10.83 lakh crore as stocks extended their gains after a three-session winning streak on Thursday.
Meanwhile, Asian shares slumped due to fastest US inflation in four decades and a hawkish European Central Bank bolstered expectations for more aggressive rate hikes which have hammered investors’ sentiments worldwide.
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