Share Market Today: Sensex Rises 1,619 Points; Nifty Around 23,300. All Sectors In The Green
Share Market Today: On the 30-share Sensex platform, all the constituents ended in the green, with M&M, Wipro, TechM, Infosys, Tata Steel, Airtel were among the gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday extended their rally into a third day after the RBI kept the repo rate unchanged at 6.5 per cent. While all the NDA members formally accepted and appointed Narendra Modi as the leader of the alliance and backed his candidature for the Prime Minister’s post for a third term.
At the end of the trading day, the BSE Sensex zoomed 1619 points to 76,693 (2.16 per cent). On the other hand, the NSE Nifty50, closed at 23,290, up 469 points (2 per cent).
Stock update
On the 30-share Sensex platform, all the constituents ended in the green, with M&M, Wipro, TechM, Infosys, Tata Steel, Airtel were among the gainers.
In the broader markets, the BSE Midcap and Smallcap indices advanced 1.28 per cent and 2.18 per cent, respectively.
Sectoral update
All the sectors were closed in the green. Nifty IT index jumped 3.4 per cent, Nifty Metal and the Nifty Realty gained 2 per cent each, while Nifty Bank index rose 1 per cent.
In the previous session on Thursday, the BSE benchmark rose 692 points to end at 75,074, while the Nifty climbed 201 points to settle at 22,821.
"The anticipation of stability within the coalition government at the centre, coupled with the RBI's upward revision of its growth forecast for FY25 to 7.2 per cent, fuelled a broad-based rally in the domestic market. The Indian market surpassed its previous record high set on exit-poll day and reached a fresh peak," said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Seoul, and Shanghai settled with gains, while Tokyo and Hong Kong ended lower. European markets were trading lower. US markets ended on a mixed note on Thursday.
Global oil benchmark Brent crude climbed 0.04 per cent to $79.95 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,867.72 crore on Thursday, according to exchange data.
Rupee gains 14 paise
The rupee appreciated 14 paise to 83.39 (provisional) against the US dollar on Friday, in line with a firm trend in domestic equity markets after the Reserve Bank kept the key policy rate unchanged. A weak American currency against major crosses overseas and lower crude prices in international markets also supported the local currency, forex traders said. However, foreign fund outflows restricted the upward movement in the rupee, they added.
At the interbank foreign exchange market, the local unit opened strong at 83.46 and moved in the range of 83.48 to 83.37 against the greenback. The unit finally settled at 83.39 (provisional) against the dollar, registering a gain of 14 paise from its previous close. On Thursday, the rupee settled 9 paise lower at 83.53 against the dollar.
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