Share Market Today: Sensex Jumps 1331 Points; Nifty Settles Near 24550. IT Stocks Gain

Share market today: On the 30-share Sensex platform, 29 out of 30 constituents of the Sensex ended in the green. TechM, Tata Motors, M&M, TCS, HCL Tech, UltraCemco emerged gainers

Sectorally, all the indices ended in the gains, led by Nifty IT, Auto, Media, and Realty indices, which ended over 2 per cent each.

Source : ABPLIVE AI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday closed the week's last trading session with gains of over 1 per cent each amid buying across all sectors. The Sensex jumped 1331 points to settle at 80,437. On the other hand, the NSE Nifty50 gained 397 points to 24,541.

Stock update

On the 30-share Sensex platform, 29 out of 30 constituents of the Sensex ended in the green. TechM, Tata Motors, M&M, TCS, HCL Tech, UltraCemco emerged gainers. Sun Pharma is the sole loser.

The fear index, India VIX, closed lower at 14.40, down 6.18 per cent.

In the broader market, Midcap and Smallcap shares led the gains among the broader indices, with the Nifty Midcap 100 index and Nifty Smallcap 100 index, ending higher by 1.96 per cent and 1.93 per cent, respectively.

Sectoral update

Sectorally, all the indices ended in the gains, led by Nifty IT, Auto, Media, and Realty indices, which ended over 2 per cent each.

The Indian stock markets were closed on Thursday on account of Independence Day.

In the previous session on Wednesday, the BSE benchmark climbed 150 points to settle at 79,106, while the NSE Nifty50 closed marginally higher by 5 points at 24,144.

"The stability of the JPY has been instrumental in driving a global market recovery. Besides that, the strong US retail sales and a decline in weekly jobless claims have helped alleviate fears of a US recession. Further, the market sentiment has improved due to a decrease in US CPI inflation. On the backdrop of these, the Indian IT firms exhibited strong buying interest," said Vinod Nair, Head of Research, Geojit Financial Services.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled significantly higher. European markets were trading mostly in the green. The US markets ended with sharp gains on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,595.27 crore on Wednesday, while Domestic Institutional Investors (DIIs) were buyers as they bought equities worth Rs 2,236.21 crore, according to exchange data.

Global oil benchmark Brent crude declined 1.22 per cent to $80.05 a barrel.

Rupee ends flat

The rupee stayed in a narrow range and settled flat at 83.94 (provisional) against the American currency on Friday, as the support from a rally in domestic equities and weak greenback was negated by foreign fund outflows amid geopolitical tensions in the Middle East.

At the interbank foreign exchange, the rupee opened at 83.93 and touched the intra-day low of 83.96 against the greenback during the session. The local unit finally settled flat at 83.94 (provisional) against the dollar.

On Wednesday, the rupee settled 3 paise higher at 83.94 against the US dollar.