Share Market Today: Sensex Rises 253 Points; Nifty Settles Above 22,450. M&M Up 6%
Share Market Today: On the 30-share Sensex platform, M&M became the top gainer, up 6 per cent, followed by JSW Steel, UltraCemco, Kotak Bank, ITC, NTPC
Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday closed in the green for the second consecutive day. The S&P BSE Sensex closed 253 points higher at 73,917. On the other hand, the NSE Nifty50 settled at 22,466, rising 62 points.
Stock update
On the 30-share Sensex platform, M&M became the top gainer, up 6 per cent, followed by JSW Steel, UltraCemco, Kotak Bank, ITC, NTPC. On the downside, TCS, HCLTech, HUL, Nestle, Bajaj Finserv, Wipro were among the losers.
In broader markets, the BSE Midcap and Smallcap indices ended over 1 per cent higher each.
Sectoral update
Sectorwise, Nifty Auto jumped 1.6 per cent, followed by the Nifty Realty index rising 1.4 per cent. On the other hand, Nifty IT index dropped 0.8 per cent.
In the previous session on Thursday, the BSE benchmark jumped 677 points to settle at 73,664, on the other hand, the NSE Nifty50 gained 203 points to close at22,404.
"Despite mixed global signals and uncertainties surrounding the US Fed, the Indian market experienced a robust recovery, largely fuelled by the outperformance of the broader market and positive Q4 earnings. Further, some index heavyweight earnings surpassed expectations, and midcap and small-cap stocks continued to exhibit buying interest during dips. Auto and consumer durables particularly stood out with strong earnings momentum," said Vinod Nair, Head of Research, Geojit Financial Services.
Global market updates
In Asian markets, Shanghai, and Hong Kong logged gains, while Seoul and Nikkei closed in the red. European markets were trading in the negative territory. Wall Street ended in the green in the overnight trade on Thursday.
Global oil benchmark Brent crude rose 0.25 per cent to $83.48 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 776.49 crore on Thursday, according to exchange data.
Rupee rises 17 paise
Meanwhile, India rupee gained 17 paise to close at 83.33 (provisional) against the US dollar on Friday, on positive domestic markets and expectations of some fresh foreign inflows. At the interbank foreign exchange market, the local unit opened at 83.50 and touched an intraday high of 83.32 and a low of 83.50.
The domestic unit finally settled at 83.33 (provisional), a rise of 17 paise from its previous close. On Thursday, the rupee had settled at 83.50 against the US dollar.
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