Share Market Today: Sensex Jumps 400 Points; Nifty Around 24,150. Reliance, SBI Top Gainers
Share Market Today: On the 30-share Sensex platform, SBI, NTPC, Reliance, Tata Motors, PowerGrid, Nestle emerged early gainers
Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Friday scaled fresh record highs in morning deals, led strong gains in Reliance and Bharti Airtel. At 9.55 am, the BSE Sensex jumped 405 points to 79,648. On the other hand, the NSE Nifty50 was trading at 24,166, up 121 points.
Stock update
On the 30-share Sensex platform, SBI, NTPC, Reliance, Tata Motors, PowerGrid, Nestle emerged early gainers. On the down side, IndusInd Bank, HCLTech, Axis Bank, Adani Ports, Kotak Bank, ICICI Bank were among the losers.
In the broader market, the BSE Midcap index gained 0.3 per cent, while the Smallcap rose 0.6 per cent.
In the previous session on Thursday, the Sensex rose by 569 points, or 0.72 per cent, to settle at 79,243, while the Nifty climbed 176 points, or 0.74 per cent, to finish at 24,045.
"The market momentum has the potential to take the Sensex to 80,000 level. The healthy trend in the recent rally is that it is driven by fundamentally strong largecaps like RIL, Bharti and leading private sector banks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the green. Nikkei gained nearly 1 per cent, and Shanghai advanced 0.5 per cent. Kospi and Taiwan rose to 0.3 per cent. Hang Seng, however, was down 0.1 per cent.
US markets ended in positive territory on Thursday, a day ahead of the core PCE data.
Foreign Institutional Investors (FIIs) bought equities worth Rs 7,658.77 crore on
Thursday, according to exchange data.
Global oil benchmark Brent crude climbed 0.49 per cent to $86.81 a barrel.
Rupee rises 8 paise
Meanwhile, the rupee appreciated 8 paise to 83.37 against the US dollar in early trade on Friday, supported by a positive trend in domestic equities and foreign fund inflows. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the appreciation bias.
At the interbank foreign exchange market, the local unit opened at 83.42 and gained further ground to trade at 83.37 against the greenback in initial deals, registering an increase of 8 paise from its previous closing level. On Thursday, the rupee appreciated 12 paise to settle at 83.45 against the US dollar.
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