Share Market News: Sensex Up 200 Points, Nifty Around 22,500 Amid Volatility. Realty Gains

Share Market News: On the 30-share Sensex platform, M&M, L&T, Bajaj Finance, UltraCemco, Titan, ITC emerged early gainers

Share Market News: In the broader indices, Nifty Midcap jumped 0.67 per cent, while Smallcap was trading 0.50 per cent higher

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Share market news: The two key equity benchmarks, Sensex and Nifty, on Friday that opened in the green ahead of Q4FY24 GDP data, are erasing early gains amid volatility. At 10.25 am, the BSE Sensex rose 180 points to 74,066. On the other hand, the NSE Nifty50 was trading at 22,527, up 39 points.

Stock update

On the 30-share Sensex platform, M&M, L&T, Bajaj Finance, UltraCemco, Titan, ITC emerged early gainers. On the down side, Infosys, Kotak Bank, TCS, Axis Bank, Airtel, SBI were among the losers.

In the broader indices, Nifty Midcap jumped 0.67 per cent, while Smallcap was trading 0.50 per cent higher

Sectoral update

Sectorwise, except IT and Pharma, all other indices are trading in the green, with Realty index rose 1.5 per cent, followed by Financial Services gaining 0.86 per cent.

In the previous session on Thursday, the Sensex fell 617 points to 73,885, while the NSE Nifty50 slumped 216 points to 22,488.

"The market is tantalisingly poised with the possibility of a sharp move based on the exit poll results tomorrow evening," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, adding, "largecaps in financials, autos, capital goods and telecom have the potential to lead the rally." Vijayakumar further said that the latest macroeconomic data from the US showed the world's largest economy grew at slower than expected pace during January-March 2024.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the positive territory. Wall Street ended lower on Thursday.

Global oil benchmark Brent crude went lower 0.34 per cent to $81.58 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,050.15 crore on Thursday, according to exchange data.

Rupee gains 5 paise

Meanwhile, the rupee appreciated 5 paise to 83.24 against the US dollar in early trade on Friday boosted by robust sentiment in domestic equity markets and a downward trend in the crude oil prices overseas. Forex traders said, however, strong American currency and unabated outflow of foreign capital weighed on the local unit.

At the interbank foreign exchange market, the local unit opened at 83.25 and gained further to trade at 83.24 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Thursday, the rupee gained 11 paise to close at 83.29 against the US dollar.