Share Market Bounces Back: Sensex Rises 750 Points; Nifty Trades Above 24,120

Share Market Today: On the 30-share Sensex platform, Sun Pharma, Airtel, M&M, Reliance, L&T, Adani Ports emerged gainers

Share Market Today: In the broader indices, the Nifty Midcap 100 and Smallcap 100 are trading in green.

Source : ABPLIVE AI

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday rebounded sharply in early trade, because of buying in frontline stocks such as Reliance Industries and HDFC Bank. At 10.50 am, the BSE Sensex jumped 746 points to 79,789. On the other hand, the NSE Nifty50 was trading at 24,122, up 208 points.

Stock update

On the 30-share Sensex platform, Sun Pharma, Airtel, M&M, Reliance, L&T, Adani Ports emerged gainers. On the down side, PowerGrid and IndusInd Bank were the only two losers.

In the broader indices, the Nifty Midcap 100 and Smallcap 100 are trading in green.

Sectoral update

Among sectors, Nifty energy, pharma, healthcare, media gained 1 per cent each.

In the previous session on Thursday, the BSE Sensex tanked 1,190 points to 79,043, while the NSE Nifty50 closed at 23,914, down 361 points.

Global update

In Asian markets, Shanghai and Hong Kong were trading in the positive territory while Seoul and Tokyo quoted lower. US markets were closed on Thursday for Thanksgiving.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,756.25 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.14 per cent to $73.38 a barrel.

Rupee falls 2 paise

The rupee fell 2 paise to trade at 84.49 against the US dollar in early trade on Friday dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.

As FPIs sold Rs 11,000 crore of shares on Thursday Indian rupee was constantly on the selling side against the US dollar which surged to its highest at 84.51 before closing at 84.4850 with the Reserve Bank of India (RBI) protecting any fall beyond 84.50 for now, Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP said.

At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On Thursday, the rupee depreciated 7 paise to close at 84.47 against US dollar.